So… what can’t go up, must go down. Or what can’t go down, must go up.
So we have been led to believe. If that is your reality, you may want to enroll in OT, overtraders anonymous.
Sideways action is often a path the market takes when it is indecisive and digesting a big meal like Friday’s. Range trrading allows us to scalp long and scalp short.
This type of action catches the late shorts who are finally convinced to jump in, and traps the early longs too eager for a reversal.
The numbers change, but the psychology does not.
System players recognized the key location and traded accordingly.
Waiting for candles to close for confirmation in a range day gives up an enormous edge to traders who trust their instincts and play tennis from the baseline.
Oversold markets need to correct themselves and revert to the mean through time, price, or both.
We are coming into the end of the month and end of quarter, so be on your toes for FOMC shenanigans.