What is an "INSIDE DAY"? When the high of trading is below the previous session high and when the low of trading is above the previous session low.
How often does this happen? I can't find another instance in the past three years. I designed my charts to show me bars as black when they are "INSIDE BARS" or "OUTSIDE BARS", so it is easy to see them.
What does this mean? The market is waiting for news.
What do you do? You can use levels like this for future reference as it shows a "balance point" for the market which may be viewed as "fair value".
Tim 8:30AM EST Friday, Nov 14, 2014