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In this video Richard covers early clues to ranging or trending days. What are the key identifiers? Richard clearly explains how to tell wether a market will be in range or trend by assessing the first hour of play.
- Trending days - small initial balance, single prints, small distributions consistently building
- Range days - large or non directional initial balance, failure to make single prints
Richard shows a trending move in the Pound, push higher followed by absorption with a lot of volume, in this range they are buying the lows and absorb everything, small initial balance followed by small push up or down, followed by absorption. This is where you start ticking the boxers for trend type day.
How to quickly assess a range bound market and then use trading strategies that are best fit for ranging markets by locating yourself inside the market profile cave.
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