Very boring and choppy day today, unless of course you read very timely post form last night above using opening range:
And are familiar with the 50-61% retracement trade:
Lets take a look at opening range :
Excellent gap fill tips, multiple time s/r level. Laminated with some S/r , ambush, gap fill , vwap levels very good clues today
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Market Thoughts:
- Very narrow range day today after a monster day yesterday , between 50-60% of average range for major indeces, will write this off as consolidation/rest/pause day
- Got some bounce from extreme oversold conditions, is this it? few targets of 893, 898, 903 possible (well shoot, everything is possible in this market)
- This market is not going anywhere without crude
- All FX pairs has a huge bounce against the dollar out of extremely oversold conditions and are approaching some levels to try to join the possible new trend
- Put/Call ratio didn’t disappoint today, got a bounce
- Put/Call closed at 1.07 bullish
Will post charts with details on key levels later on tonight. Will also try to knock out some more very basic money printing strategy posts like OR last night, depending on how tired I am.
have a great rest of the day
Vlad