The TL supporting the corrective ON PA broke during the futures session. Beneath it, the market was negative and it was ranging between previous day low and CBOS/S1 area.
Price then formed a clear triangle below the TL and KLs but above the low – once the underside of the triangle broke around lunchtime, the real declines began.
During the morning session, a minor triangle below SUP 1 gave a safe long entry for 1R. Given that the market was negative below the TL, but at this stage could also have been rejecting the break, this was a nice entry.
