You were just a tad too early, my friend. These situations are always tricky unless you're scaling in/out. I had a buy limit @ 53,50 and a buy stop @ 56. The latter got filled. Holding it at B/E now.
There is a massive move in the offing over the next 3 days. Problem is, I'm not sure which direction, but it will be huge.
Still flagging lower here, so might get that second push to the down. Would be re-assuring with a break above 64 or so.
If possible, may you please tell what factors make you believe there is a massive move soon ? i think FOMC is one of the factors. Thanks.
It's fairly simple. In my view, contraction of Bollinger Bands occurs primarily when there has been range trading and they get much narrower right before a huge move. The size of the move is somewhat dependent upon what time frame chart you are looking at. They contract somewhat in parabolic trending moves as well.