THE market seemed to follow the outlook: we needed a test of 1382-1384. Buyers could profit and last evening we were long 1374 and again suggested it was a buy level early this AM.
[07:29] <CM> the overnight play stop at 77.5 (post deleted showing long 1374) pre us open testing highs again 1378 resist for a bo
This play looked promising again at the US Open. B's 5-6 and B's 23-26 offered entries at the buy level which was above the 1370 target mentioned in the prior week outlook. When these buy levels develop, and it could just as easily be a sell level, the BOTs are helpful in determining the range and break out targets.
Today, the trading emphasis is on another tool: the buy/exit and sell/exit analyzer. BE and SE levels develop each day and in each market trading zone. The tool is used to find entries then the exit(s) which will often be in a trend of various bar time lengths. The wider the exits, the better the trend or hold period. As exits begin to narrow, the trend/PA is likely to stall if not reverse.
Today, the BE's were at +3, +6, +7.5, and +8.5. The gaps between the exits began to narrow and we had a TL reversal break. The short were +2 and +5.5 back to the support.
BOTs and BE/SE, a winning pair.
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