Here I present a game of boxes. During indecisive times as these where consolidation is a likely outcome, I like to draw up an overall plan displaying neutral zones of S/R along with possible pivot points using Fib Retracements (and when they align - it makes for an interesting zone of possible entry). During an otherwise normal time period, I would expect price action to move between these levels for a bit before deciding a more decisive move (a couple of days). HOWEVER, contingent on the stock market (which might be printing an apparent top with downside action to come) open tomorrow, price action might follow suite and burn through the outlined levels. I will be uploading an idea on a higher timeframe outlining invalidation levels and supports I want to see broken before I am convinced of a downside move (which is also very possible nowadays).
Stay tuned for my daily trade updates - although I will probably be playing these ranges as well.
Stay tuned for my daily trade updates - although I will probably be playing these ranges as well.
Trade active:
Produced the first profitable trade from red outlined sell zone to the dotted green line.