![]() Even when the market trended down at midday, they expected the breakout to the new low of the day to fail, because that’s what usually happens on trading range days. When experienced traders detect those feelings, they look at them as opportunitiesthey bet that every breakout will reverse and they look to buy low, sell high, and scalp. Beginners feel confused and disappointed by the repeated reversals, not realizing that these feelings are the hallmarks of trading ranges. ![]() This means that the bulls and bears were disappointed by the follow-through. There were many bars with prominent tails, lots of pullbacks, yesterday ended in a tight trading range (markets have inertia and tend to continue what they have been doing), and few areas of 2 or 3 consecutive big trend bars.
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