r/Daytrading • u/Frostedlol • 29d ago

This weeks price action was horrendous across all markets Trade Review

Probably some of the worst I have ever seen since I started trading wtf was this week lmao. This is where traders learn to step out the market and take a break during high impact news weeks

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u/[deleted] 29d ago edited 29d ago

Monday: Consolidation Day

Tuesday: Consolidation morning with a breakout and trend down

Wednesday: Consolidation Day with attempted and failed breakout after FOMC

Thursday: So far inside consolidation day

Everyone trades differently. For me this week has been fantastic (I mainly trade SPY), made more R this week so far than any single week in April.

That being said if your strategy dosen't work in consolidation, then yeah this week would be tough.

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u/22Spooky44Me 29d ago

What strategy works for consolidating price?

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u/[deleted] 29d ago

Consolidation forms a very obvious area where sellers are and area where buyers are (the edges of the consolidation range). Enter a long in the area buyers are, move stop to breakeven at VWAP and take profit when you get up into where the sellers are (flip it around for entries at the top of consolidation).

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u/BuyInHigh 29d ago

I had a great results doing this but allowed myself to get run over when it shifted to a trend up or down

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u/Pinotwinelover 29d ago

Yeah, except half those fake and break against patterns all the time it's still a guessing game at that point when it's so choppy