Yesterday was supposed to be a witching day; in fact a Quadruple witching day.
But, the movement on the market is totally muted. For a witching day, the last hour movement saw /ES moving between 1110 and 1113.
For the entire day, the overall movement is even more narrow than the past 2 days.
A non-eventful trading day; given all the hype about witching.
The good thing is, with this narrow range, the risk of entering new positions gets better. The small range provide us with less risk if we stick to the trading plan of having a tight stop loss. The small candle on the chart provides great stop-loss if we intend to go for a counter trend swing.
I have trying to bet that the market will turn for the past 3 days. And for 3 days, I have to cut my loss as it refuse to back down.