Dreaded Summer Tape
Dreaded Summer Tape
And I’m being polite here as my favorite expletives somehow don’t do the low volume summer sideways churn much justice. I’m not very inspired to participate on the equities side at this point but there’s a setup on the map and being your resident Market Mole I’m somewhat obligated to report it:
Unless the E-Mini starts getting its groove on in the next two hours we’re probably going to finish the day with an inside candle. Which puts us officially in bi-directional entry mode – short on the low and long on the high trigger.
However, although I may play a breach I’m going to use very small position sizing – less than 0.5R. Reason why are all those outside periods which are even more predominant on the YM. That’s pretty crappy tape and we are heading into August – not an exciting time for equity traders.
There are two setups I am however absolutely excited about and if you read my Sunday P&F update then you may have an inkling as to what I’m talking about. Please step into my lair:
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Cheers,
