- Technically the MKT is vulnerable to the offer. On the SELL side accept all BREAKOUT, FADE and REVERSAL signals. The MKT is on edge and any negative signal, especially below the previous session high, is an opportunity. Anticipate a price "zone" around a major resistance point to FADE. Have a plan and be ready. If your stop gets hit and the MKT does not immediately follow through, consider re-entering, even doubling up if there is structure to define low risk.
- On the BUY side REVERSAL strategies can be executed off of major support levels but preferably after an emotional sell off. This is an aggressive strategy and any profits should be realized at the previous support failure points. Avoid DP FADE BUYS even with confirmation, as this is more likely a plateau for a BREAKOUT SELL strategy. UP BREAKOUT strategies are not recommended but do have a better chance of succeeding than a DP FADE.
Today's PRICE MAP Performance for SF
Wrap Up
- "Money days" happen when the market performs to expectations. By utilizing JS Services Market STATE, STRUCTURE and STRATEGY, along with the appropriate market TACTIC, our traders were able to net some serious profits in the SWISS FRANC futures market. With an MC Value of -4, this market was in a BEAR TREND market state and expected to follow through to the downside. The R Level above the Critical Range signals that the opportunity is to the downside on any corrective rally up to that point. Our optimal MARKET TACTIC in a TREND state is a moving average crossover signal identifying the sell signal in the market. This signal occured just before 7 am CT when the faster moving average crossed from above to below the slower MA, generating a SELL signal. When the market began to sell off sharply, it generated a STRONG BAR, closing near the lows and taking out our expected level of SUPPORT at the DP. This was our "tell" to accept the SELL DP BREAKOUT strategy with the expectation for a move to the DT2. The market continued to sell off sharply and took us down to our profit target at the DT2 with minimal time in the market. A great trade made possible by identifying the STATE of the market and the OPTIMAL TACTIC to utilize.
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