Bias-parameters
Morning bias
Trending up into another bias window.
Compensating for this morning’s delay.
[pay]It was time to “move on” when the morning’s bias environment started lapsing at 11:30 back under 1323.50. That time has been used well, fulfilling the 1324.50 pre-open high’s retest, along with this morning’s 1325.00 bias-up target.
1-minute RSI had diverged negatively while 3-minute RSI struggled at overbought. But the noon hour absorbed the setup by ranging narrowly for an extended time.
Now the noon hour’s exit has surged to 1327.75. This afternoon’s 1325.00 bias-up signal is likely to trigger. And the trend remains up so long as pullbacks hold any test of 1326.00 as support.
Back under 1325.00 by more than 2-3 ticks would signal momentum reversing down.
[/pay]
Afternoon bias
Still ranging as the bias environment lapses.
Time to move on.[pay]
This morning’s bias-up environment is now lapsing. The open’s 1323.50 high was retested a half-hour ago. It is being retested again now.
This should be “the” leg that finally extends to retest the 1324.50 pre-open highs, and probably also the 1325.00 bias-up target.
The deeper dip and the delayed resumption may have refueled buyers to extend through 1325.00 to confirm the 1338.00 target is in-play.
Entering or exiting the noon hour back under 1321.00 would instead signal buying pressure was fully expended.
[/pay]