Friday, January 7, 2011

Jan 07 market prep

- yesterday close in the middle of the range , i would say on a positive note, being yesterday range location inside the new BA (upper middle)
- VA was overlapping with previous day VA, even if we had a liquidation break quick in the day we were balancing for the rest of the day above a pretty clear S area
- ON activity was contained within the same range as yesterday

- my plan for today is to trade the BA 1266.00-1273.75 within the bigger BA 1273.75-1258.25; meaning I'll apply the BA rules:
- for a rotational type of day i'll play rotations from one extreme to the other of the smaller BA with monitoring the extremes for possible breakout or false beaks and with destination trade the opposite extreme
- 1258.25 its an important level to watch, being the limit for entering in the previous BA; acceptance below will be bearish and rejection from this level will be bullish

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