12.00pm...
Technically today’s trading worked well, the bearish pattern is confirmed by the break of the 3-week lows @ 6573, with the expectation that the market is heading down into November 50% levels.
Intra-day, the lower open provided the perfect entry. Not only for longs and ‘gap’ closure, but for traders wanting to enter shorts, around the Spiral point highs @ 6570 and trading below 6577.
Day Traders: Partial exit around today’s lows or R44 points down from swing highs @ 6528, with the expectation that market is going to follow further weakness.
Hopefully, today doesn’t end up a ‘trading day’ that rotates inside a 44-point range all day, as it did yesterday but continues down…….
Any shorts stops placed above 6577... traders can partial exit 22 points down and just let the market run its course into the end of today.....
Intra-day, the lower open provided the perfect entry. Not only for longs and ‘gap’ closure, but for traders wanting to enter shorts, around the Spiral point highs @ 6570 and trading below 6577.
Day Traders: Partial exit around today’s lows or R44 points down from swing highs @ 6528, with the expectation that market is going to follow further weakness.
Hopefully, today doesn’t end up a ‘trading day’ that rotates inside a 44-point range all day, as it did yesterday but continues down…….
Any shorts stops placed above 6577... traders can partial exit 22 points down and just let the market run its course into the end of today.....
The reason for the 22 point exit @ 6550 is that statistically lower R87 spiral points favour support...
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