- What happened today?

     We broke out of the previous yearly high (4209/Circled area) last thursday and on the JP talk friday we sold back down through it. Today we rallied at open then had a false breaking news breakdown through previous yearly high and then immediately pulled back up into it. I should have identified that there was equlilibrium at this zone with strong sellers above it and strong buyers below it. If I couldve identified that I wouldve been playing the meta game. Other traders are looking to get continuation longs through 4209 or continuation shorts below 4209 like I was doing today. If you think like other traders you do not make money. I need to think about what the other traders are thinking and act accordingly. I should have identified that yes Risk on is green but its merely a consolidation phase. Yes vold is uptrending but it never broke HOD from the open, same with ADD. If they are showing strength but not enough strength to really move the needle then they will not move the needle. This was a pure ranging day, no other way to put it. In this example of a range day you should look for reversion back to 4209 at any spot that you are getting in at, The fool buys or sells at 4209 and loses when it rips in the other direction just to come back to that exact spot. The smart trader realizes that people are looking for continuation through that zone and buys dips with target of 4209 and shorts pops with target of 4209. 

    Fool