Trading the bearish trend on the YM emini and congestion phases
After a dramatic move lower for US indices driven by the indecisive words of the FED, it was interesting to see how the markets would react a day later, and bearish sentiment remained firmly in place throughout the session, initially trading in congestion before developing a solid price waterfall lower. One question often asked about congestion phases is how to identify these phases, and whether they are accumulation, distribution, or merely a reversal or pullback.This is all about Wyckoff’s second law of cause and effect.
In this session we were once again trading the YM emini and as the session unfolded so momentum in the bearish trend developed too, gathering speed. And if you don’t have a full blown futures account, the multi asset MT5 platform is a great alternative.
Source: https://www.annacoulling.com/stock-trader-tips/trading-the-bearish-trend-on-the-ym-emini-and-congestion-phases/
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