With the backdrop of our assessment that selling confidence was poor yesterday, the initial balance look down below the prior session's lows, with a huge excess tail and benign TICK ,was the trade of the day. And with all of the laggard shorts to fuel the move higher, there were many points to be had on that entry.
The day also featured a nice mid-session consolidation long entry trade as well.
We are not hitting on all cylinders with our tactical brief therapy goals, but at least it's nice to note that we are all over structure.
Odds: They are going to push it up again tomorrow most likely. Breakout and go or breakout and fail. Bring it on!
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