OH NO. A BOT magnet.
PA was in a nice bear channel from the Euro Zone. It gave way to a strong bull channel that began around 7:30-8 AM EST. Then the narrow range that trashed from LB+ to LB- for the first hour of the US market. 1-2 points and BE are not the trades we want. BO or range run not "hanging out" at the BOT.
Patience with a narrow range pays off. A narrow range is expected to provide an extended BO.
[10:30] <CM> PA magnet at least this extended range bound trading is expected to have a bold bo in past those went to 10-15 15-20
That final push failed to run to BO-5 and PA reversed for a range run and eventual BO-5. Some 13+ point run.
A reversal was seen at the end of the day for a long to the SB and them the MB.
PA was in a nice bear channel from the Euro Zone. It gave way to a strong bull channel that began around 7:30-8 AM EST. Then the narrow range that trashed from LB+ to LB- for the first hour of the US market. 1-2 points and BE are not the trades we want. BO or range run not "hanging out" at the BOT.
Patience with a narrow range pays off. A narrow range is expected to provide an extended BO.
[10:30] <CM> PA magnet at least this extended range bound trading is expected to have a bold bo in past those went to 10-15 15-20
That final push failed to run to BO-5 and PA reversed for a range run and eventual BO-5. Some 13+ point run.
A reversal was seen at the end of the day for a long to the SB and them the MB.
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