See saw day
Today wasÂ a see saw day. Up and down in a range, with a few head fakes thrown in for good measure.
Find the basic range, and trade 80% of the middle is a reasonable strategy for conservative traders. This plan is for range trading. In the chart below you will see the ends as “tails” above and below the highlighted box.
The fulcrum kept moving throughout the day, as the long’s and short’s stops were run. The morning low and high held for the rest of the day, but there was good travel range, providing nimble traders with multiple trades in both directions.
After the 63 held in the afternoon, the late day jam squeezed the shorts who went to the well one time too many.
This business is about making money,not guessing every wiggle right.