"The Chop" Explained. Thursday 10/24
I do not like to trade in days that play out like this. This is high resistance liquidity conditions and trading days like these have torn holes in my account. They are great to study and pick up on the cues early so you can stay out of them.
Notice how between 9:30 and 12:30 there were only 2 FVG formed on this time frame?
Notice how there is not a clear directional run toward liquidity?
In the 1 min chart, is there clear directional moves or a lot of back and forth? Some call it chop. Days like these I remind myself to stay flat, I don't have to trade every day.
Remember that after a Large range trading day there is a high likely hood of a High resistance Liquidity conditions on the next session.
Notice how between 9:30 and 12:30 there were only 2 FVG formed on this time frame?
Notice how there is not a clear directional run toward liquidity?
In the 1 min chart, is there clear directional moves or a lot of back and forth? Some call it chop. Days like these I remind myself to stay flat, I don't have to trade every day.
Remember that after a Large range trading day there is a high likely hood of a High resistance Liquidity conditions on the next session.
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