Bias-parameters
Afternoon bias
Bias-up, alleged.
Low-volume environment, and low post-open volatility make fresh highs suspect.
[pay]The 1250.50 bias-up signal was tested as support after the open, and held through 10:15 to trigger bias-up.
This pre-holiday low-volume environment will undermine the signal’s productivity — it could still be invalidated by failing to hold through 11:30.
Its reliability is also suspect. Even if we were 100% assured of the 1257.00 bias-up target being fulfilled, the path there probably would not be direct. Price action could simply spend the balance of the session meandering its way higher.
Breaking back under 1250.50 would be compelling for short-entry, and compelling to hold short if it produced a slice through yesterday’s ~1246.50 lows.
Although this is not an abbreviated session, its volume will behave that way as already-low participation all but disappears after this morning. And that really undermines predictability. This may produce a big opportunity, but meanwhile argues for keeping stops very tight.
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