WHEN we see a stalling (or a FBO) at a BO-5 level, it is the tendency of PA to reverse and run the range. Opinion, but it works very well. We we a little discouraged with the bulls. They did hit the 40-41 area but sold off again to lower levels.
[08:47] <CM> we can "wish & hope" with opinions "bulls want to test 40-41 then the next level 1350" but PA action will always be king cont selling inside bot levels until mkt breaks trend
The trend was seen in PA from the prior day, and while the 1350 was optimistic, it was non the less a multi-day target. But there is a trend.
The trend developed at that FBO level and was pushing lower crossing range BOT levels. Optimistically, new daily BOT were established when we noticed a bullish tone to the pre open PA,
[09:12] <CM> us open levels 1332-1329-1324.75
[09:12] <CM> bias is long at open
PA was in a range run and had an opportunity to bounce at the Short BOT. Instead, it ran the BOT at B3 for a test of the SBBO-5. The stalling at the BO-5 was seen as an long opportunity. After all, a FBO or stalling is regarded as a reversal opportunity for a range run.
[10:51] <CM> low risk fbo long at bo5
And the alert for the chat....
[11:21] <CM> normally if we see a fbo bo5 pa returns to run the range,,,
[11:21] <CM> just a thought.
RANGE RUN completed....
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