early weakness too could non accept out the S1 level, nosotros moved into a hit merchandise for the day. Having noted prior pull precisely waning upside momentum, this was non a surprise outcome.
One uncomplicated agency to position a hit solar daytime is to hold off at how we're trading relative to the day's opening price. Trend days, yesteryear definition, volition deed away from the day's open; i.e., the day's opened upward volition locomote some the day's high (in a downtrending market) or depression cost (in an uptrending market). When nosotros run into a marketplace position deed away from the opened upward too and then snap dorsum to the open, you lot guide keep a practiced indication of hit trade.
Once nosotros brand the identification of hit trade, nosotros know to locomote wary of buying pull near the day's high too selling weakness near the day's low--particularly if book dries upward on those efforts to ready value higher or lower. For other ways of identifying a hit market, check out this post.
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