US markets have remained in a trading range between the Weekly 50% level and January lows (resistance). Today that resistance disappears, but the February 50% level is going to also play an important role in trend identification for the next 4 weeks...
My Weekly report was for price to move up into these highs on both markets 12700 and 1390, and now it's a wait and see approach on how US markets react to this level on Friday.... (full Weekly report tomorrow)..
There is no breakout in the daily ranges, and with a number of resistance levels around these highs today it wouldn't surprise me to see a lower daily close, and closing around the middle of the 5-day range...
Short trading above 12700 and 1390 today is open to risk as price will move upwards towards the Daily channel highs on Friday......
This week's high probability set-ups were the 'HOOK' day off the 3-day lows on Monday, and using the 5-day 50% level to trade upwards towards the Daily channel highs, whilst traders were 'shorting' the top (January Resistance)
There no probability patterns on Friday...
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