Good trade setup here. I am personally not taking this trade as it is later in the day and crazy things tend to happen. You have a layer out of the initial balance as well as a layer through the "ledge". Good buy signal.
Sitting on the sidelines, however I am suspecting we will have a slight move downward and then a good run up into the close. Above is a 1 minute chart with some hand crafted TREND LINES!
Look for short term run up here our traders net position for the day went from 5,000 long to 15,000 short. Smart money will try and squeeze them out. Possible area to sell at 1091.25.
I believe we will test our lows as it is at the tail end of the volume distribution for the day. I am not putting a trade on but I will look to see a test of the lows and if it will hold. If it does hold I will look to buy.
I Sold 1093 even though we have a small Initial Balance, I think we will grind lower because we hit the top of Yesterdays Value Area High and failed to stay up there.