-Technically the MKT momentum is counter trend and will need
a strong showing to overcome the underlying negative threat.
-On the SELL side REVERSAL strategies off the UP or near the
previous session or move high will work best. DIR or DP BREAKOUT should just
go. A better option is to FADE positive
reactions against the DIR after a negative signal.
-On the BUY side accept FADE and BREAKOUT strategies. BREAKOUT should expect some “start and stops”
The trade is corrective and sharp positive surges can be erased in a
hurry. FADE will work if the corrective
state is going to continue. REVERSAL
strategies are a lower probability as a break in structure should be considered
a potential negative shift in momentum.
Today's PRICE MAP Performance for W
- The WHEAT market had produced a corrective signal in an underlying bear trend; however, the analyst has placed the R Level at the UP signaling to traders that the opportunity is on the short side of the market below this key inflection point. The market was trading around the DIR at midnight when it began its descent. After showing no signs of follow through on the corrective signal, the market broke out to the downside where traders could have entered the market with a SELL DP BREAKOUT strategy. These breakout strategies usually expect to go for the 2nd target, in this instance, the DT2. The market stabilized briefly at the DT1 around 10 A.M. and then continued lower to our profit target at the DT2.
