Let's see how profitable could be a market if you take it a piece at a time, without wild unsupported dreams:
It tested 2937 for the second time and it did it starting from an inside period (balance rules) we take note of the poor low at 2913 and of C period low at HB (29265) and we go with the rally: we profit up to GB spike base 2981.
We didn't see acceptation above 2981 so we have no reason to stay anymore in our long positions.
At this moment in time (I left the market) for those who were still involved, here's a handy opportunity: knowing the poor structure left downside, including the poor GB low 2913, and the C period low at 29265 a short is licit, especially after the failed test above GB high.
And in fact market went down, correcting the entire structure of GB session and taking out 29265 (C period low at initial half back.
And you also know a couple of things after all that: market participants were very weak all day long as they left a poor low at 2913 and a weak high at 29885 (back to back preUS and Pit highs)
Finally note the perfect test tag of pit September unch at 2923.
Disliked{quote} 2937: if a real test fail all the way back to 2913. If it will succeed take note of 2913 and C period low at HB and go with it (the rally).Ignored
DislikedPS: if we will see acceptation above spike base 2981., next levels to consider before 30255 are: 29965 and 3000 (during this GB session and eventually until GB close.)Ignored
DislikedNow, current GB profile has a very ugly structure. Take note of it. don't know if I will follow also preUS ans Pit. So in the case, have a nice weekend.Ignored
And in fact market went down, correcting the entire structure of GB session and taking out 29265 (C period low at initial half back.
And you also know a couple of things after all that: market participants were very weak all day long as they left a poor low at 2913 and a weak high at 29885 (back to back preUS and Pit highs)
Finally note the perfect test tag of pit September unch at 2923.
Ubi maior minor cessat