Friday saw us break through regression resistance that has held a few days. Having said that, overall regression is still solidly bearish, so this pullback might be short-lived.
I will consider entries at 1204.5 and 1198. If price breaks through 1204.5 to the upside, I will attempt a long. I will do the same if price bounces off 1198 to the upside. I will go consider shorts if price bounces off 1204.5 to the downside...or if it solidly breaks through 1198.
And yes, those are Friday's value area top and bottoms.
Using historic points of control as potential profit targets. I will check what price action does around those levels before potentially locking in profit. Levels to watch are 1210, 1234 and 1240.
TV won't let me post 1min charts, but I'll fine tune my entries on 1min charts. Right now we sit right at Friday's value area top, so I'm without bias until it either bounces off to the downside or clearly breaks through.
I will consider entries at 1204.5 and 1198. If price breaks through 1204.5 to the upside, I will attempt a long. I will do the same if price bounces off 1198 to the upside. I will go consider shorts if price bounces off 1204.5 to the downside...or if it solidly breaks through 1198.
And yes, those are Friday's value area top and bottoms.
Using historic points of control as potential profit targets. I will check what price action does around those levels before potentially locking in profit. Levels to watch are 1210, 1234 and 1240.
TV won't let me post 1min charts, but I'll fine tune my entries on 1min charts. Right now we sit right at Friday's value area top, so I'm without bias until it either bounces off to the downside or clearly breaks through.
