11-15-2010, 08:11 AM
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#25 |
Join Date: Sep 2006 Location: USA Thanks: 22
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| Re: Price Discovery
Quote:
Originally Posted by ant » If the market opens within value... - I would consider going short at the rally high with the expectation of the prominent POC and poor low being revisited. Staying below the rally high keeps the short-term downtrend intact.
- I would consider going long in the 1191-1193 area, which covers Friday's poor low, the previous balance area high at 1193, and the lower trendline. Also keeping in mind that Friday's profile was b-shaped. I would really like to get a peek-a-boo below Friday's low to see if there are any more sellers and to correct the poor low.
| Here were potential overnight trades based on the above analysis. Note that these were discussed for the regular trading hours, but if they set up overnight, they are still valid trades. Overnight session opened within Friday's value area.  |
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