OVERSOLD AND READY TO RUN

BOT TRADING SYSTEM

The range news that was released to subscribers this A.M.

Market has completed a longer term H& S pattern and seems oversold.  Fundamentals are still in the market suggesting we have a period of mini swings, prior to longer term growth.


es       1134.75-1129.5-1125.5

nq        2136.75-2130.5-2128

tf           660.6-656.9-654.5

ym        10789-10746-10709

6e          3632-3608-3571


Those that had this information saw an early SB FBO.  The rule assumes this will run to the opposite level.  It did, and at the open we run for a quick LBBO +5 and +10.  It was at the LBBO15 we see a reversal 50CB.

A bearish channel developed,   with a second LB run to a lower high at LBBO10.  The focus in the room:  we had three chart elements coming together,  The LB, the EMA, and the channel.  These are important.  PA can break two or three elements and have a substantial run.

[13:52] <CM> note mkt has brought PA and ema back to the LB

[14:03] <CM> pa at a critical area  lb/ema/channel  a bo long would attempt a hod test.  bears keep channel alive

[14:06] <CM> when pa can break 2-3 chart points(lb/ema/channel in this case) the runs tends to be extended and very nice to play.  flip, pa does not break  it holds trend  and a lod challenge is likely  either way  a play to watch

[14:07] <CM> traditional play:  look for sign of direction, play first pb

[14:07] <CM> aggressive  long the lb when (if) pa returns

The three elements broke.  The PB entry was at the LB.  Nice run.

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