-The MKT has a soft tone against an underlying positive
trend. On the SELL side accept UP FADE
signals on the 1st or 2nd press into the area only. REVERSAL strategies should only be done off
the UP or the previous session high point and will immediately work if they are
going to. Keep position management tight
on these trades. SELL DP BREAKOUT
strategies are aggressive but do have potential to be the start of a larger
corrective turn. Keep risk management tight.
-On the BUY side accept REVERSAL signals off all major
inflection levels, expecting the underlying positive momentum to resume. DP FADE strategies will work better with
confirmation as the MKT is in a corrective state and will be probing lower
looking for soft spots. Work any BUY DIR
and UP BREAKOUT strategies as any positive shift in momentum has the potential
to be the start of the next leg higher.
DIR FADE strategies after the UP Breakout should use greater leverage.
Today's PRICE MAP Performance for TY
- In a BULL TREND CORRECTION state, the market is vulnerable to a corrective sell off within the underlying bull market. With that being said, the analyst has placed the R Level at the minor level below the DP, signalling traders that the opportunity is on the long side of the market above this level. The market sold off to the R Level, respected this level, and then resumed the underlying bull trend. Consistent with out market commentary for the day, we should look to accept DP REVERSAL signals in anticipation of a resumtion of the underlying bull trend. The market gave us a BUY DP REVERSAL signal around 4:30 AM and followed through with a steady move up to the DIR.
