When price is in a range why do some people buy at the top? lol

If you are referring to THE ES then institutional money is buying. Bullish institutions are winning at the moment. It is called a BO of a range on a 5 minute chart. Happens around 20% of the time it is attempted. ROFLMAO

 

PRICE ONLY moves because institutions move it. All our moola combined is like a teaspoon of water in a 55 gal barrel. Herds don’t move the market...any more. Maybe back in the 40’s and 50’s but that day is long gone.

 

CORRECT

 

Especially, in this Trump rally! Anybody wanna buy a Trumpy bear. I saw they had them on sale on TV. You could put on on your trading desk to remind you of why the market has rallied nigh 40% his first year in.

PS rally will most likely continue and get more ferocious. Buy that Trumpy bear!

 

Anticipating a break out.

 

??? Why are we squids?

 

Maybe if I'd done the same as Warren Buffett I'd have as much as warren Buffett. But that would exclude me from trading.

 

If this is the case for you and you can make money out of this then this is pretty cool. For me it would be like throwing a coin if I would just use this information without any additional input. But maybe you are very trained on these kind of setups and so by experience you know what to do to get an edge out of it ?
I think this is something some really good traders do, just focus on a few, pretty simple setups but know them really in and out instead of trying a little bit of everything.

 

lol

 

Oops what happened to those range BO buyers? Hopefully they EXITED at or before that 10 point (bo of range) at the wedge top. Or is sailor boy still riding the long wind?? Guess who is winning now, for the moment? Hint it ain’t the bulls.

Write it down in the notebook. Ride any BO until it no longer is a BO.

Hint: price action.....Price is in a range..followed by actual BO or Spikes (samathing). If successful then channels (nothing but slanted ranges) then ranges again. Then another BO and can happen in ANY direction south or north.

Channels can be tight or broad. Broad have tradeable PB’s.

This BO morphed into a channel with PB’s. TRADEABLE PB’s. The channel ALSO formed a wedge top. Then small sideways range consisting of a PB then a NORTHERY BO PB failure then a really good BO south that blew the boat with a strong wind before sailor boy could turn the sails. It happens.

This is including globex session as context. On a 5 min ES