OK, what is the big deal about a neutral day? Well most of the time, after the market's second range extension, it retraces back to the middle of the Profile. I say "most" but in the ES RTH, I can't remember it not happening unless it was too late in the day.
It doesn't take a lot of smarts to figure out that this is a high probability trade that should be traded by me in every instance I see it. This is an automatic response on my part. No thinking required, I just do it. Sometimes the move is not completed entirely within the RTH session but goes into the Asian time zone. See the pic.
Hi EL,
ReplyDeleteThanks for all your posts. I am confused as to what trade your speak of on Neutral Days? Fade the second move?
Happy Holidays!