Gap did no close. Market is still in ranging mode!
Hi, the market has not be performing very well lately. I did not even trade today. Staying out of the market when there is no trade is as important as knowing when to enter the market. A non-trending market can cause you to lose big time, cancelling whatever profits you might have from previous trades.
Today's market opened with a gap down. Remember what I told you about gaps? there is no guarantee that the gap will close within the day and this is a typical example of what happened. During the later part of the market at around 1500, you can see a double bottom forming, However, I did not enter as the market still appeared to be in a trendless mode and I wasn't willing to risk my money for that little profit possible.