Fishing for a Friday Factor move.
Probing above the bias environment”s narrow range.
The lower-end of the 2034.50-2039.00 bias environment”s range was pierced before the final hour. That dip stopped optimistically short of touching the morning”s low.
Now the bias environment range”s upper-end is being probed. But it”s too late to trigger a short-squeeze.
Exiting the bias environment above the noon hour”s 2042.00 high would have set-up a short-squeeze. Further firming is still possible, with potential to 2043.50.
And further firming could resembling a short-squeeze. The weekend”s impending illiquidity is like a tinder box, and each tick higher (now testing the noon hour”s high) is like a lighted match.
But it”s too late for counter-trending to be sponsored by weak hands. So, reacting down through the 3:37-3:52 position-squaring window could reach new session lows. Not reacting down at all without extending higher could find buyers spent.
