Hello and Good Morning.
YESTERDAY'S RECAP!
All of us were actually expecting to do our PROFITS collection as usual , we had our traps set and we were ready , but sadly nothing took place , the MARKET played on it's own way, THE RANGING continued, and lastly forced me to Dive DEEPER to understand what was happening and guys i' saw the CONSOLIDATION, and yesterday's closinig remarks were the MARKET will be consolidating for a while.
TODAY'S ANALYSIS!
Every TRAP i had set yesterday remains the same, i'm sure there will be no breakouts for today as well and unless we come across some extra confirmation point's which as of now i'm sure i have covered all, so as i said yesterday we are expecting the consolidation to continue for at least the remaining of this week, nothing further, my thinking is we have to be ready for TRADING THE CONSOLIDATION , which basically means we have to identify our SUPPORT and RESISTANCE ZONES and as always Buy at Support close at RESISTANCE, and give A SELL which should close at Support.
This is workable on any time frame , but a lower time frame will be clearer for this type of MARKET.
Anyways my FELLOW TRADERS, i'll continue evaluating the MARKET STRUCTURES and will be updating as time goes by, for those few words, i see myself with huge recovery to make, there is a possibility i might go less of my Target this month but you know that's what TRADING is all about,.
NOTE: i last night talked about the CONSOLIDATION CONTINUATION, and from last evening up to now we are on the consolidating market, my normal routine for the above market, i'll be also looking for opportunities in other PAIRS, the consolidation is due to the CPI news yesterday at last not wholly but it contributed a certain percentage.
Up until then wish you a wonderful day!