Monday, August 20, 2012

Trade Guideline For Tuesday

Another consolidation day on Monday, with price action staying inside  2765 support and 2786 resistance. Unless it can breakout of the range, we can expect another consolidation day again on Tuesday. 

A clear and sustained breakout of the range, however, would trigger a trending move in the direction of the break.

Trading range = 2765 - 2786 (2765 Support, 2786 Resistance)

FT Pivot Numbers
R1 = 2787.25
P = 2777
S1 = 2770

Market Profile Numbers
UVA = 2782
POC = 2780
LVA = 2772