How did you all do today?
We traded to these following levels today:
Opened at 1596.00 from yesterday's close of 1598.
High: 1598.00
Low: 1593.00
Close: 1598
Alright.. we opened at 96 this morning and immediately went back up to close the gap at 98. We tried to break it but could not and started to trade down from there.
Price did not go down in a zig zag pattern and just went down in a swift and fast pattern.
When the US market closed mixed last night, I already suspected we would trade in a small range. We expected price to be range trading which was really the case.
After price touched 98 and slowly melted downwards. Because I expected today to be range trading and a slightly upside biased day, I stalk out for the next best trade which was a long.
I drew my trend lines and was hoping price would come down to 92 and I would go for a long from there. Price actually just touched 93 two times today. And the second time which was after lunch, we rallied right into the close with some pull back to 98.
At one point I was commenting to another of my dealer if I wanted to take more risk, I can enter now at 93.5-4. But I did not, so missed a good long there. But I am okay with this because of the nature of today's volatility and small range.
I would rather take a high probability trade then to risk taking 50/50 or worst trades. So... no trades for me. Looking forward to tomorrow. There are no economic numbers in the US tomorrow night so I think we will have a great range to trade tomorrow.
Talk to all of you again tomorrow! Nights!
Best Wishes,
Tech Trader
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