Technically the MKT is in a NEUTRAL DIGESTIVE position with all indicators counter balanced. The MKT is "on the fence" with the potential to go either direction or nowhere. Pick your points and have no expectations, as the likelihood of this MKT trading sideways is high.
On the SELL side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The pivotal nature of the session does have the potential to be the starting point for a new move, however the probability of any trend action is more likely to just be the MKT defining its new consolidation extreme. Have resting limits at major support levels and be ready for a BUY REVERSAL opportunity on a false failure.
On the BUY side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The MKT is "on the fence" and does have the potential to be the beginning of a new trend move. The probability of a new trend move is low, however any price trend action is more likely to just be the MKT defining its new consolidation extremes. Have resting limits at major resistance levels and be ready for a SELL REVERSAL opportunity on a false breakout.
Note: The MKT is in neutral and is more likely to go nowhere fast. Don't get stubborn, however, if the MKT starts to get into trend mode as the contract may just be expanding its digestive parameters producing a one way trade into the close and new extreme. In addition, avoid leveraging up on any BREAKOUT, as follow through at this time is unlikely.
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