WHEN THE MARKET FOLLOWS THE SCRIPT

We talked earlier in the week about the silver lining behind the consolidating market.  It would break out, and show extended, playable trends.  Wednesday was better, and today was the reward for being patient with the price action.

FOLLOWING THE SCRIPT:

The only thing better is a market that follows your script.  Last evening PA was down hugging the low 1290's.  The script called for the market to break to the long side with an exit at 1302.5-2.75, a  +12 run.  The market won an Oscar for it's performance.

This area became our focus for another exit when PA would test the area a second time.

MARKET OPEN

[09:20] <@Chartmaster> open bias is long. we reached last evenings target. bit flat since 8:30 est so no rush to jump back in.  the unexpected (depends on the trader): selling back to 96-96.5 which can trap early open longs

The market was very responsive to directions, and we played the selling back to the 96 area.  We use CC to help identify our entries.  Both chart showed PA failing at resistance.

 The day was long bias, but we looked for the selling trap, and allowed the market to complete the selling to support.  That support was the entry for the market run to test the 2.5-2.75 target.

Once we had the target (1302.5-2.75) confirmed, the market began a short term consolidation.  The trade focus was a bracket of the sideways action with break out points at 1301-1303.25.

Once these points are tested, strong PA stalling at the BO point will be the clue to take an opposite side trade.  I.E.  the support near 1301  was a long indicator.

The PM say a pair of scalps at the upper BO point.  Knowing it will break is valuable.  Knowing when would be extremely valuable.

The PA support just above a major MA  was a clue for the BO move.  BO point identified, support identified.  The last trade of the day  as it extended toward our end of day target of 1307.75.

PA got there, but waited until early in after hours trading.