The First Trade & Pre-open Tour Recording… One set of sellers flushed.
Proper context can start the day with a solid win and make all the difference.
DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A
Through the prior close…
Tuesday’s night’s swing and Wednesday’s choppiness had suggested the market was primed for trending attempts, regardless of whether any succeeded, which they weren’t likely. Primed for volatility, Thursday’s “dry cleaners morning” was a disappointment as price ranged narrowly. The price collapsed, from 2671.00 down to 2664.50 through the noon hour. The afternoon’s noN-bias environment lapsed at session lows at 2654.75. A 7-point bounce failed as oversold RSIs attracted price back down into the close.
Overnight action’s new info…
Retesting the 2654.75 low’s oversold RSIs was likely to visit 2653.00. Globex almost immediately fulfilled it, piercing it momentarily by nearly 2 points. Trending back up 4 points eventually surged another 3, and then added a point ranging flat-to-higher testing 2661.00 into and out of Europe’s opens. The range is now trying to break higher.
If, then…
Triggering a buy signal above 2659.50 into yesterday’s last half-hour was momentarily productive, and could have triggered a compelling hold-long setup. The buy signal was sacrificed to retest the low’s oversold RSIs and to test its room for noise at 2653.00. Having neutralized their attraction below, another buy signal should be much more productive. The overnight rally is a good start, but it must be maintained to trigger bias-up to even attack “unfinished business above” at 2677.75 before the afternoon’s bearish WedEX’s influence. Post-open weakness isn’t required to remain within yesterday afternoon’s range.Meanwhile, gapping up above yesterday afternoon’s 2664.00 high would form a “session-long rally” setup. That can co-exist with the bearish WedEX only by rallying into a late-afternoon collapse.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 2662.25 would be likely to trigger the 2659.00 bias-up signal at 10:15. Exiting the open under 2656.75 would be unlikely to trigger bias-up.
Phonetic dictation…
good morning welcome it’s Friday at 7 for Fridays morning market tour interesting set up here where are they headed up or down how’s that for precision open with the morning is unlikely to sit still that possibility probability actually yesterday and yesterday the morning actually became a dry cleaners morning just sitting still or at least remaining in the range and relatively narrow rain it compensated for that delay as you can say we are in an environment that wants to trend has not necessarily too widely to Spirit camps of opinion that are trying to Trend in either direction but that’s the net result is it tries to Trend in either direction and remember the one unlikelihood at least so far is that those attempts won’t succeed that they’ll get so far and then reversedand since we have a very sweat X influence this afternoon it’s unlikely that a session long rally setup rally into the clothes so maintaining the Gap above 2664 in the late afternoon and then great potential to collapse from there otherwise it would be in contradiction to the very sweat X the session long rally setup played out any other way if it were the trigger which means it probably wouldn’t form that way so the two alternatives andthe upside momentum it lapse closing under 7650 reverse momentum back down the pound got a pretty big correct to bounce out of here also testing 13450 that’s a pretty critical level more critical is to reject yesterday’s close above 130 425 to resume or maintain really the top penis this was not sufficient to reflect the distribution or the line pressure that was satisfied at the highs but brexit talks or brexit news I should say so this is what needs to beand that is regards the Bitcoin halving shredded down or at least stabilized was good for ethereum Bitcoin trending backup perhaps it’s that the benefit rotation out of and I wouldn’t be surprised to see 200 pretty soon
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