The daily bias has shifted to the upside for the short term with the price trading above the Daily Pivot Range (blue dots), therefore this level is key support.
The Daily Pivot Moving Averages are flattening out (red, yellow white lines) and should turn up if the market price further confirms the bullish bias.
A close above the 3 Day Rolling Pivot Range (RPR, green and yellow dots) is confirmation that the market has turned its short term bearishness to bullish . At the time of writing, the price is at the RPR low.
The action to take is to place a buy order to enter the market long if the market closes above the 3 Day RPR on a 60 minute chart. Use discretion to get as close to 4.1793 as possible and place the stop loss at the Opening Range low and the profit target stated below.
Note: If triggered, look for the trade to play out over a period of 24-36 hours.
Entry Price: 4.1793
Stop Loss: 3.5219575
Profit Targets: 4.620. Once the market reaches the first profit target trail a stop loss .20 points behind and let this market run.
