YESTERDAY the discussion centered around playing a range bound day. Until a new BOT range (one of significant in the calculation) develops, the current range will continue to be the focus.
from last evening: [23:33] <CM> hold for 62 area (chart deleted)
A fellow trader was shorting 64 and 64.25 area. The target would be a completion of the BO-5 level and a hold for 62 should be profitable. SBBO-5 hits and market PA reverses for a range run in the Euro Zone.
An early start for a nice day for trading, or simple a chance to walk away and enjoy the day in the States, the evening in Europe....
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US MARKET UPDATE 6:15 PM EST
RANGE BOUND is PA consolidation and an extended BO is expected. The long BOT broke and PA was testing the BO-5 level at the US Open. The extended run continued toward the BO20 level, where PA stalled and the anticipated 5 point PB developed.
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