That's probably smart. It's trying to decide where it's headed along with the rest of the market. Trying to base.
This is absolute no-man's land. I hate mid-day triangles. If anyone's as bored as me right now, let's discuss triangle breakout strategies. I personally prefer to play a breakout of the widest part of the triangle. To me, this demonstrates true buying/selling strength. I have no idea how to play breaks out of the narrow part, because you never know when the chop is going to end and it's going to be a real breakout. This is the time of day I normally have about 20 b/e trades trying to position myself for something. Then I get frustrated, step away from my desk and boom off it goes.
its going up...always closes up on a friday after being under pressure...all the shorts will start covering here shortly....no one wants to be short over the weekend.
Yeah right. Buyers will just step in to create a break even trade for everyone who thought this was the real triangle break