Yesterday's NR7 was a perfect foreshadowing of today's expansion. Despite the stellar ISM and pending home sales data, the bears easily took control of the session and held into the close. Financials paced the way lower amid rumors, along with commodities/energy on a stronger $
USD.
The tail end of the range bound market was difficult to trade. One strategy that worked well was buying/selling a head fake lower/higher. Using
PDH/L as trigger points, look for reversal candlestick patterns shortly after trigger point has been breached - ideally this happens in the first/last hour of the trading session when volatility is highest.
Yesterday's NR7 was a perfect foreshadowing of today's expansion. Despite the stellar ISM and pending home sales data, the bears easily took control of the session and held into the close. Financials paced the way lower amid rumors, along with commodities/energy on a stronger $USD.
The tail end of the range bound market was difficult to trade. One strategy that worked well was buying/selling a head fake lower/higher. Using PDH/L as trigger points, look for reversal candlestick patterns shortly after trigger point has been breached - ideally this happens in the first/last hour of the trading session when volatility is highest.
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