Don't you hate a reversal without a proper highs retest? I hate chasing, but it's the only way to get in on the trade sometimes... Most range traders probably get quite annoyed when they miss trade setups because of floating reversals. Most of the time the market has a proper divergent retest of the highs/lows before it can turn. When the market is not touching any kind of support or resistance one friend of mine calls it "no mans land" and others call it the "no trade zone"... Personally, I think that the "no mans land" can be traded, but only when there is a very solid trade setup. Full blog post, and why I think the floating reversals occurred... I should have shorted the confirmed setup on time charts. It wasn't a floating reversal on the 15m. http://simplert.com/archives/84
The domain RangeTrader.com was taken and I wanted to start a blog... So I decided to switch to simpleRT. It's short for "Simple Range Trader", or "Simple Range Trading", or etc...