IN a range bound day, the BO's are limited and the range runs will often be the better trade. We will also expect extended periods of flat or sideways action which is dangerous/difficult to play and has a tendency to frazzle the nerves of traders involved. Today's range was extended to BO5+ to BO5-.
BO5 long hit pre open for the US Market, reversed for a range run and left a gap to the SB BO5. All subsequent test of the low ended with higher gaps. PA ran the range (long then short) ending the day around the SB.
When trading, and especially in a range bound day, it is important to find buyers/sellers entering the market. This can be analyzed over time frames or over markets. The thought is, enter/exit when they do. Like a dance, you do not want to be first (nor only) person on the floor, and should you be a bit clumsy or awkward, wait for a crowded floor. Crowds can move PA and compensate you for not so perfect entries, albeit given enough time, you will most likely self destruct your account.
ENTRIES AND EXITS ACROSS MARKETS
BO5 long hit pre open for the US Market, reversed for a range run and left a gap to the SB BO5. All subsequent test of the low ended with higher gaps. PA ran the range (long then short) ending the day around the SB.
When trading, and especially in a range bound day, it is important to find buyers/sellers entering the market. This can be analyzed over time frames or over markets. The thought is, enter/exit when they do. Like a dance, you do not want to be first (nor only) person on the floor, and should you be a bit clumsy or awkward, wait for a crowded floor. Crowds can move PA and compensate you for not so perfect entries, albeit given enough time, you will most likely self destruct your account.
ENTRIES AND EXITS ACROSS MARKETS
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