Hi there guys,
These were two great opportunities to short the market. Read my commentary for details. I didn't go into all of my reasons but suffice it to say, the quality of the trading day was much different from the trend days we saw on Monday and Tuesday. We all need our own methodology to determine if we want to go with the trend or fade the market. Today, gave a lot of clues that fading offered the better opportunity. I will go into this more in future posts.
I didn't post a Reversal chart for the 2nd trade, but it gave great clues with a strong push up into my level of interest followed by two bars where strong buying couldn't get close to making a higher high. Check it out.
I hope this helps,
MG
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