Expecting "intraday" range to be held between 47.70 and 49.40. These are NOT predictions of price action but levels from which to anticipate a correction to the prevailing price movement.
Suggest Long @ 47.70; Stop of 15 ticks & Target of 45 ticks.
Suggest Short @ 49.40; Stop of 15 ticks & Target of 45 ticks.
NOTE: This is a "counter-trend" strategy.