Range bound action continues in the market. All the rips get faded and dip still getting bought. Dangerous choppy trendless market out there. This consolidation/range phase , where most traders lose money .In terms of day trading this where we tend see choppy trend less action. Stops gets taken out after entering a trade only to see stock it recovers after hitting our stop loss. Price alert or break out alert will trigger only to see it fail or being stuck in a range. Key to surviving theses stages is less trades or smaller position size, day trading playing intraday momentum name that running due to earning or news. Do not get sucked into trading just because they set up looks great. Be skeptical about the setup and the success. Be sure to read my past blog post about , “Recognizing the Market’s Trend and Trading Appropriately”.
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