On higher timeframes, we’ve been pushing higher since mid-March, and we pumped 138 points from open to close in the last 3 days of the previous week – so going into today I was expecting some consolidation or reversal…
What we got though was a humongous rollercoaster.
From the open we trucked higher with almost no pullbacks… it was too risky to jump on longs or fight the market and look for a reversal in this trending action.
Then we had a super strong rejection that left no room to get on board, taking us past the open.
(Zoom in on the picture with a click)
Now I expect the shorts are in control so I will be looking to get short soon.
I break down the crazy day’s action here in the DPS
Looking forward to entering my first trade of the day. 😉
Even though I only trade a single product – the ES – it always gets me how every day is unique and if we are patient we can see the solution to the daily puzzle forming.