Today's trading range was small and on some super lower then normal volume. Where is everyone? I have no idea. This does not mean it was a wash of a trading day tho. We actually had a few decent trades and some that just went nowhere. We where able to get a piece of the v bottom around the 9:50 mark on the chart below. Which is really 12:50 for EST. However we took profits and and when we got to the bottom of our self proclaimed value area (the red line which is based on a regression channel) we noticed the market start to rotate. this is the point at which we took a few trades that just went nowhere. Small losses but still what I wanted to point out an learn from this was the fact that you can see these profiles in the blue boxed area rotating. If you note that the value area from profile to profile never really pushed higher or lower but distributed itself right inside for a few about 54 minutes. this based on the low volume was a very good signal to just step aside. This is why we took very small positions and used smaller stops knowing that the bigger move we caught earlier would still keep us in profit on the day.
www.tradeinwaves.com
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