-don't short on what appears to be a trend day (opened, tested pivot, straight up, price already moved past typical reversion to mean levels (see blue box).
2nd Scenario, price returns to the blue box and bounces up to continue trend
At resistance, no trade currently, looking for a breakout but must clear arrow and channel (see example to the left, where there was strong resistance no breakout above.
The Delta on this idea: gold.
-finally hit 55-56 area for larger swing play? (see morning idea notes)
-channel goes back 14 days and worked very well
-strong trends always caution against
-54 is mean reversion so above 54 is trend build
more triangles than usual today on lower TFs, coils for a large move?
All day in the opening range (gray box)
In case that large move is down:
2360 - 58 is the channel and an old fib, both would have to hold to keep this idea