Ahoy there Trader! ☠️
It’s Phil…
The SPX is back in a contraction phase, with Bollinger Bandwidth at its lowest in 150 bars. Traders now have the option to either wait for a breakout or engage in range trading. It’s a time to strategize and capitalize on market movements!
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The market has contracted and expanded like a yo-yo, and here we are back in a sideways shuffle. The Bollinger Bandwidth is at one of its lowest points in the last 150 bars, signaling that a decision must be made.
As we navigate this familiar territory, we have two primary choices:
- Wait for the Breakout: Keep your eyes peeled for that magical moment when price decides to leap outside the range.
- Trade the Range: Embrace the classic back-and-forth dance, capitalizing on both bullish and bearish movements within the defined limits.
When the market behaves like a coiled spring, profits await those ready to act!
Fun Fact
Did you know? The SPX has had more than 30% of its trading days within a narrow range of just 1% since 2000! This highlights how often markets can consolidate before making significant moves.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece