- We have a 4 day balance area which is inside of a bigger 4 week balance area
- We open at the lower end of y range and the 4 day balance area
- We test below and fail
- We move up strongly almost to the upper end of the 4 day balance
- Not a classic trending day because we had a strong corrective move
What about next trading week?
- There was much covering in this up-move
- We will see if longer term buyers will also come in
- The last rallys were all sold off
- Most important earnings week
- Be objective and open to all possible outcomes: 1) look above and go 2) look above and fail 3) door no 3 is balance,
- Do not go into overnight swing positions. These will lead to bias and kill your daytrading objectivity
- Start each day flat and open minded and enjoy low risk daytrading