Above is an update on previous 2 setups posted this week, with possible bear traps expected if market continues a rally. So far the setups have played out well as expected with shorts hitting target from last session sell off and longs currently active for option 1. Option 2 still possible to occur if Asian session does not produce enough volume to push price higher.
As posted yesterday the short setup still valid with expected price drop during london sesson into the US session open where reversal longs may be taken. The chart shows suggested trade levels that may be helpful in your trading today.
NAZ back in the Box. Today the NAZ , upper target 20 points away, then dropped way past lower target.
The morning stall did send the NAZ to ABCD ALIGNMENT . TODAY, I would expect the Dip Buyers to show up, at some point. Overnight may be Drop & Pop set up for Open, this has been the ongoing sequence. They may shake it up with a Pop & Drop, we shall see. Unlikely since the EOD close did not bounce. DIPS COULD BE AT POINT C
Be careful on the possibilities of another sell off before buys are validated else wait on breakout of this week's peak to go long.
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Trade closed: target reached:
TARGET 1 AND 2 REACHED
Trade active
