This is because of my view of the market trying to rotate upwards into higher timeframe 50% levels.
Trading the 'long side' even when there is a daily down trend has worked because of the repeating pattern of rotating back towards the 5-day 50% levels late in the day.
My probability pattern for today is....
The R44 range to complete on the upside and form a HOOK pattern above the 5-day filter @ 3615, and move towards the 5-day 50% level @ 3652.
I've factored in a rising pattern, but we need to keep which could also push the market back towards 3575"
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SPI Weekly and 5-day pattern
SPI opened lower than expected but right on my lower Support levels @ 3575.
Once price moved up 44 points and above 3615, the same pattern that's been occurring for the past 4 weeks....
and that is a rotation towards the 5-day 50% level @ 3652.
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