PA can at times seem to be mute, murmuring, or shouting about a trade. This is where your reading skills are tested.
Today we had an early Euro Zone range run which had an effect on the US Open, where we see a FBO for shorting. We traded last evening in the after hours, and the BoT Range was set early. No worry, there was plenty of action for the US trader.
A Bear/Bull TL was developing after the initial market shorting. Tighter and tighter it was ready for a major, extended BO. At this level, the read was: if shorts can not continue, we would see a FBO followed by an extended long run BO. That occurred, and was a nice trade run to the high signal.
Selling followed in two phases: above the 50CB and then the 50CB BO.
A very nice day to read.
THE LONG
POST LONG REVERSAL SHORT
50CB SHORTING
THE FINAL PICTURE
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