Any tips on figuring out a day's action early? I have been experimenting and haven't found anything yet. I recently tried looking at the market cap. of the top 10 pre-market advancers versus the top 10 pre-market losers without any help.
Help? Did you ask your grandmother .., oo, and did you also think to ask one of your neighbours children?
It's about how quick and sharp the initial move is and how forcefully it gets faded. Look at your shoe - if you pulled the laces apart really hard, the shoe would recoil temporarily, but it would be looser until it was tied up again - same thing with the market - if there is a very forceful move - the temporary retracement is often a chance to get involved in the direction of the trend (the sharp move) - just watch how it reacts during the retracement to a significant level. On the flip side, when a market is slowly moving without any sharpness for a fade to take place, then that's just as good. As always, it's all about risk/reward. Mark your spot - hopefully one of relevance - and get in (and out if it moves against you).
There are several methods to figure the next day trading range. Probability of such forecasts is ranging between 60 to 80%, the systems build on such range trading methods are available for trading on several Futures and Forex trading websites... for example www.internationaltradinginstutute.com