- The MKT is in a sideways digestive position with a slight positive bias.
- On the SELL side avoid DP BREAKOUT strategies but rather FADE a positive reaction against the DIR after a negative breakdown signal. UP and UT1 REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any UP FADE trades should get confirmation first.
- On the BUY side UP BREAKOUT strategies are valid but should expect a laborious trade. Work any position, selling into emotional surges and re-entering on any sharp pullbacks. Expect a choppy trade and be aggressive on minimizing profit give-back. DP and DT1 FADE and REVERSAL strategies are recommended.
Today's PRICE MAP Performance for EURUSD
Today in the EURUSD FOREX market, we had an MC Value of +3 in a NEUTRAL DIGESTION environment. Our market commentary tells us that we can accept BUY DP FADE and REVERSAL strategies as our expectation is for price to stay within the Critical Range. Around 5:30 AM the market makes a push through the DP and quickly corrects itself. After the market made another attempt at the DP and FAILED to put in a lower at 6:45 we are given an opportunity to BUY a DP REVERSAL as the market has told us that it is respecting the Support level at the DP. In a sideways market, we should keep tighter position management, and profits on this trade should have been taken at the DIR.
