As always, it’s the fundamentals and politics which provide the backdrop and with bond yields falling, the overall picture is one which is not positive for risk assets, and as always it’s a case of trading what you see on the chart, and not what you may think.
In this session we focused on the YM emini with patience required as all the faster time-frames oscillated around the volume point of control with no direction. However this patience was rewarded with a solid move to the downside, and one which yielded a nice trend as the index broke away from the VPOC only to be brought to a halt with the volatility indicator – a clear signal of congestion to follow and time to exit with our profits.
Leave a Reply