Expectation that Monday was rising based on the 2-day reversal pattern and 3rd day rally.We can see the last 3 Weekly 50% levels provide higher prices, and whilst the market is above the Weekly 50% levels in both markets the trend remains up.
The high probability pattern was for a rising day on Monday, this was achieved and now the rest of the trading week is open book.Furthur gains in US markets and they hit February resistance levels, and any failure or reversal back under the Weekly 50% level and then trend will be pushed down heavily
Monday's entry continued upwards from perfect support and market path is towards the 5-day highs, with the trend guide the 5-day 50% level......Bearish pattern is a break of support:- but traders should manage risk with the 5-day 50% level.
Tuesday:- for those swing traders to still holding the upper market path are based on the Range bar targets, as shown above and an ideal exit zone.
Tuesday:- for those swing traders to still holding the upper market path are based on the Range bar targets, as shown above and an ideal exit zone.Whilst the DOW remains above the 3-day 50% level then expectaion price is continuing higher in those targets.
There is no probability trade on Tuesday....
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