Play The Range

A tricky morning that could have resulted in many failed attempts to get on the long side of the Dow E-Mini.  Price action showed through the many lower shadows that buyers were attempting to drive the market higher and for a time, the market didn’t bite.

As these traders kept trying to get long, stops were building up underneath which made a juicy strike zone. Price drop into the cluster forcing longs to exit except that was not the true play.

Price reversed and drove to the top of the range with those who saw the play setting up, on board.

Two quick profit targets were hit. Since it was a scalping play and not a day trading plan, much was left on the table.

However, the quick profits were made and the rest of the day was yours to enjoy.

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