Welcome forex traders to another recap of our Elite Range Bar System. Today was always bound to be an interesting day for traders thanks to the US presidential election. My expectation going in was that we would see few large runs since not many of the big boys would be willing to trade size with the uncertainty of who would be in power tomorrow. So while we could see a bit of movement during European morning it was likely to still stay within a range and then once New York came around things would probably get pretty tight.
This is pretty close to how things played out, although there were a couple strong and quick runs with good momentum that went a bit faster than I expected. The beauty of today was that even though the opportunities were fewer and further between, they did set up wonderfully. Nice price action, clear momentum shifts… we couldn’t ask for much more except for a big winner or two to really increase the pip totals.
Now to see how things react tomorrow as it should be very interesting for the markets. Hopefully with that uncertainty out of the way we have some nice moves to close out the week where we can pull out some big pips!