- Technically the MKT is "on the fence" with the potential to go in either direction or nowhere. Pick your points and have no expectations, as the likelihood of this MKT trading sideways is high.
- On the SELL side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The pivotal nature of the session does have the potential to be the starting point for a new move. However, the probability of any trend action is more likely to just be the MKT defining its new consolidation extreme.
- On the BUY side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The MKT is "on the fence" and does have the potential to be the beginning of a new trend move. The probability of a new trend move is low. However, any price trend action is more likely to just be the MKT defining its new consolidation extremes.
Today's PRICE MAP Performance for EU
Wrap Up
- As a result of the strong move over the weekend, the EURO CURRENCY opened up below our CRITICAL RANGE. Any corrective rally up to the R Level was an opportunity to short the EURO today. As the market approached the R Level around 11:15 am CT, there was an EXTREME OVERBOUGHT signal in the RSI indicator, warning that the market was overextended to the upside. This tactic gave traders the opportunity to short the market from the DP and ride the market down to our next major structural inflection point at the DT1.
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