-The MKT has a positive lean and will maintain this posture
above the previous session low point. On
the SELL side accept FADE and REVERSAL signals at the UP and +c. The underlying momentum is up, however short
fast negative reactions are expected.
Keep position management and profit targets aggressive, as these trades
are counter trend. Avoid DP BREAKOT
strategies. Although the digestive
posture points to opportunity on both sides, follow through on either is
unlikely and less so to the downside.
On the BUY side accept FADE and REVERSAL strategies off
the DP with the expectation that any test will likely contain a few starts and
tops before a positive reaction. DIR and
UP BREAKOUT strategies should be initiated sooner (lower) than later (higher)
as extended follow through potential is not in the forecast. Have resting limits to exit and an aggressive
position management plan as the digestive posture can quickly erase any
unrealized gains.
Today's PRICE MAP Performance for EU
Nice day in the EURO CURRENCY as the market performed to our expectations for a BULL TREND DIGESTION market state. The R Level at the DP represents the sentiment bias for the day. We are told to accept BUY DP REVERSAL signals and to expect a few "start and stops". At 2:30 AM we are given our first BUY DP REVERSAL signal. The market rallies to our minor level at 1.2957 and then drops back down to the DP where it finds support around 3:30. After another rally that fell short of the previous, we have a sell off and a second BUY DP REVERSAL signal at 4:30. From here the market begins to build positive structure, making higher move highs and higher move lows. Due to the digestive market state, we should exercise tight position management, and profits could have been taken at the DIR at 8:00 A.M.
