- The MKT is on edge and threatening further losses. On the SELL side accept FADE, REVERSAL and BREAKOUT strategies below the previous session’s high point. DIR and DP BREAKOUT strategies should just "go", so do not risk much. UP FADE strategies are recommended over REVERSAL as the MKT is expected to hold lower structure and any breach should be considered a potential positive corrective shift.
- On the BUY side REVERSAL strategies can be executed off of major support levels. Expectations should be for an immediate "V" bottom turn with the MKT quickly moving away from the area or a gradual rise with higher lows after an exhaustive signal. Avoid DP FADE strategies even with confirmation, as this is more likely a plateau for a BREAKOUT SELL strategy. UP BREAKOUT strategies are a lower probability but do have a better chance of succeeding than a DP FADE.
Today's PRICE MAP Performance for SF
Wrap Up
- Today in the SWISS FRANC futures market we had a BEAR TREND ACCELERATION market state with the R Level at the UT1. The market is expected to maintain negative structure while accelerating to the downside and a break in structure should signal the look to our HEDGE TACTICS for a "tell" on the market. The negative sentiment remains in tact below the R Level, and any corrective rally up to that level presents an opportunity for traders to get short the market. The market respected the UP in the overnight session, before eventually penetrating our expected level of resistance later in the session. Since the negative structure had been negated, traders look to the RSI signals to get an "edge" on the market. As the market made a new high in price approaching the R Level, the RSI gave us a BEARISH DIVERGENCE signal. This warned of the coming sell off and allowed our traders to get short from the optimal entry point, at the R Level. The market immediately sold off and attained a price target of 2 APMD at the DIR.
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