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One qualifier is someone actually capable, skilled and enjoying the challenge of pulling profit out of a dynamic process.....certainly disqualifies most.Which one?
Today is a trading range on the ES...fade the edges.LOL
LOTS of things work in an uptrending bull market. Good countertrend today
Speedo, I think you're a good guy, but jesus, these types of "hints" about the type of day it is after 5 hours post market open is a joke. I can tell you with 100% accuracy what the weather was yesterday.... so let me know if you find that helpful.
The range was established by the double bottom at 10:55 EST and the double top at 12:20. Ranges eventually breakout but as most range BO's fail, where lies the edge? Don't concern yourself about what I do, concern yourself about what you do. Identifying range behavior relatively early is not that difficult for those who take the effort to understand price development and behavior.....even in real time
So here is the point though. By the time you say the range was established, meaning you had the high and low points set, it didn't make it down to the bottom again, and it broke out of the top.
IF the highs and lows of a range were exact, trading would be pretty easy. Sometimes a pattern simply rhymes rather than meets an exact definition. The question you ask yourself is...is it a trending market or is it a ranging market. Of course given a wide enough range with clean range legs, it can be both with the understanding that S and R are going to be strong at the edges (roughly within 1/3 of range) which suggest more of a scalping environment rather than a swing environment which I define as a setup which offers at least 2x initial risk if the trades succeeds.
