The First Trade & Pre-open Tour Recording… Disappearing downside traction.
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 open was essentially unchanged at the 2928.00-2929.50 range, fully recovering an overnight probe under Monday’s 2922.50 low down to 2917.50. This basis for an Isolation setup was confirmed by avoiding fresh lows intraday. The pre-open recovery extended higher to touch 2936.00 at noon. The noon hour’s 5-point dip was recovered entirely through the bias environment, but no higher. Instead the pattern collapsed back down to the 2924.00 post-open low, reacting up to 2930.00 into the close. Sellers gained traction by entering the final hour at fresh afternoon lows, confirmed through the proxy window.
Overnight action’s new info…
Nothing has suggested that sellers gained traction. After correcting yesterday’s late bounce by 61.8% down to 2926.00, a surge attacked yesterday’s 2936.00 highs well before midnight. An Ascending Triangle has formed from ranging sideways through Europe’s opens.
If, then… (notes to accompany the Tour recording)
Yesterday afternoon’s sellers gained traction, and their reward at some point would probe under 2924.00. The first two possible windows have passed, leaving this morning, which isn’t at all indicated. The setup is conflicted with the Double Top at Tuesday’s highs, which is generally a position of strength that enables recovering from a reaction down. And it already corrected 61.8% to 2924.00. Gapping up above Tuesday’s highs will take priority over any attraction below. Similarly, any attraction below will take priority if Tuesday’s highs hold through a relevant timing window. Tuesday’s Isolation setup now allows a temporary probe under its intraday lows, but that limitation will become irrelevant if the Isolation setup’s reward of fresh highs were to develop first.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2937.00 would be likely to trigger the 2933.00 bias-up signal at 10:15. Exiting the open under 2930.75 would be unlikely to trigger bias-up.