Avoid the Plunge! NO TRADE TODAY
5 mins Emini Nasdaq100
Hi,
How's it going? I cannot stress enough that if the conditions are not right, you should just take your dog for a walk, go for a jog, enjoy a movie or what the heck, sleep....
Today is precisely just that kind of day and by experience, I knew the outcome of the day from the first 30 minutes of price action... Yes, a ranging day and definitely a killer if you go in and out of such a market...
Notice how the Short-term MACD is hovering near zero line? The not so symmetrical movements of stochastics? all these indicates ranging market conditions...
Are there potential entries? yes, look at the orange circles when price pulled back to the moving averages... But should you enter?
NO!!
Think like a trader, think risk / reward.. and the answer will be obvious...