I'm still holding out of profit taking in this range from basis positions in the 3K range.
With that being said I'm looking for 2 scenarios here.
Upside test to higher value range (8,3-8,8) then pullback. Looking for potential profit taking here but will decide as price action unfolds.
Next scenario is downside pullback in the 30% range to (5,5 area) the mean of the previous value range. Support to kick in there and increased volatility as the market holds this range.
As usual-- regardless of what I put out as TA I trade what actually happens in the market.
With that being said I'm looking for 2 scenarios here.
Upside test to higher value range (8,3-8,8) then pullback. Looking for potential profit taking here but will decide as price action unfolds.
Next scenario is downside pullback in the 30% range to (5,5 area) the mean of the previous value range. Support to kick in there and increased volatility as the market holds this range.
As usual-- regardless of what I put out as TA I trade what actually happens in the market.
Comment:
Still expecting these downside ranges as upside ranges seem to have been broken. We'll see here if it gets pushed back into the upside value range.
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