What's been working? The morning push lower to support and then a bounce.
That's what we got today.
Trade of the Day: The morning push down and reversal trade.
This is a superior example.
Key Metrics:
1) Inside range opening of both prior day and overnight. Overnight session entirely inside range. Increased odds for balance.
2) Balanced initial balance and a low confidence break lower. Usually not a great structural metric to launch a never-ending trend move. More increased odds for balance.
3) IB volume below 5 day average. A/D sediment neutral extreme readings sub -1000. Even more increased odds for balance.
Seeing a trend here yet Scott-Trader?
4) Stop gun minor low push below prior day's lows. And a huge visual excess tail at this minor low area. Utterly and completely textbook action. Ultra-high odds long trade in this zone.
5) Bring home the bacon.
6) Does not get anymore perfect than this, Scott-Trader?
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