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Ranging day, Do you want to trade this? Think carefully.

5 min Emini Nasdaq 100

Hi,
Market gapped down slightly and never fully recovered... it just trended slowly downwards,, but in a tight range.. look at the trend lines I have drawn and see for yourself how price action is behaving... It's stuck in a narrow Bollinger Band of width 10 points..

This is not my favourite market and I decided not to trade it... The risk/reward is not appealing at all...

Is there a signal at the end? Yes, it was a valid signal... but I just wouldn't go long in a downtrend like this... Like I said, the risk/reward is not worth it... NO TRADE TODAY.

Posted by Michael Taylor on January 11, 2008 5:31 PM |

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