I expect an early high, about 9:45, followed by a low at 10:42, a high at 14:24 and a probably tail to the close. The first point is very good on the time coming at 9:35 to 9:50 as a range. However, the second point sets the tone for the day. If it falls within the range of 10:10 to 10:40, then the best trades of the day are from the long side. The key is if on the bounce from an early low is the morning high taken out. If it is taken out by 13:00 at the latest, and preferably prior to that, the long is the best trade of the day. When the morning high was broken, the pattern ran to 12:00, 14:30 and the close. That is quite a range, but if you are long, you need to be aware at noon to start keeping a close eye on things.
In the patterns that stopped short of running to the close, even the 12:00 high point, the next best trade was a short from 14:00 to 14:30. That trade lasted for at least an hour, when it came at 14:00 and all the way to the close when it came later.
So the trades of the day appear to be two. The long at 10:10 to 10:40 lasting to noon or the close. The second would come if the long stalls and that would be a short at 14:00, which should last at least an hour if not to the close.
There is one pattern that is a strong V shape, with an early high at 10:20, a Low at 14:30 and a strong run to the close. So be aware of that possibility.
My two preferred days are long at 10:10 to 13:30 or 14:30 followed by a short there to the close. On one of those two days, the 10:10 low was broken slightly at 12:00 before the real move started. |
