Navigating Sideways Waters: Lessons from Monday's Trading Session
Monday's trading session unfolded with high expectations following Friday's impressive close at 4884. As the market opened at 4893, optimism abounded with all three PPMs showing promise above their derivatives and projecting a positive slope. This blog post delves into the strategic decisions made during the day and the subsequent lessons learned about navigating the complexities of post-RTX market conditions. Initial Trade: Riding the Morning Wave Entering the market at 4891 during the 9:45 candle seemed like a promising move, driven by the anticipation of reaching R2 on the daily chart at 4898. PPM 1, though not in full trend mode, hinted at a potential upward surge with a value of .20. However, the momentum was short-lived as price struggled to maintain upward momentum. Testing moving averages on the 5-minute chart. Price, unable to sustain its initial spike, triggered a stop loss at 4886, resulting in a 5-point loss. Choppy Waters: The Challenge of Sideways Movement As the ...