Trade area to watch for

Updated

Last week posted this box, we now have reached the top of the upper box. 1 of 2 things are about to happen but both have potential to provide some market resistance. 1 is the box top, the other is an stop sweep over prior levels.

I will be forming a trade from the action not the lines.

Note

Yesterday put most of the action at range top, so would completely think a move above yesterday is possible. Excess would be nice to see. Bench sitting right now but ready for either direction so far today. trades inside yesterdays range are best odds, i think

Note

Keep eyes on what these big guys are doing. I bias my trades there way.

Trade active

hunting a short on a lift back into range, i think any trade that stops you out below yesterday high is at risk. this could be expensive trade to use your own risk and portfolio size to find your trade. I will be using a called spread short above yesterdays high.

Trade active

that could be the excess I was looking for. now need a strong roll over or will wait one more day.

Order cancelled

Look at that day tested top and fell off, tomorrow will be interesting. will post on daily tomorrow

alleytrader

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