As is often the case, the narrow range day painted on Wednesday led to increased volatility yesterday. Several traders emailed with fine examples of trades made in the weakness. Nice job!
In Deep Practice last night, we discussed this weakness and what the likely resistance levels would be for yesterday’s afternoon rally. You can see those depicted in the green bands and what the market did. Volatility has certainly picked up and the market is now trading around last week’s low. The question for today’s trading is all about whether that low will hold or do we break it and go lower?
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