3 Things a Market Can Do
Markets can be up. Markets can be down. Markets can be unchanged.
They can also be all 3 over the course of enough time. This morning the NQ is up, the YM is down, and the ES is unchanged. Take your pick, which market suits you best. Also, be aware that before the end of the day all can change into something else.
In the positive market you are looking for the next point of resistance. Where is the market trying to climb to? Be aware of support, that level that keeps the market from moving back down. In the negative market look for the next big number down, and be aware of resistance, the number that stops the market from climbing. In the unchanged market, support and resistance show us when the market is likely to change into something else.
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