I don’t like using technical indicators as my trading system is based purely on price action. Just because of plenty of free time today I wanted to have a look at once showed “Death of Volatility” chart and to upgrade it somewhat.
Though I haven’t found exactly the same ADR as used previously this one is also self-explaining. And when you mix it with Choppiness Index, you can get a nice picture where the market is right now and where it could go in a few weeks (months) ahead.
So what’s the lesson about? You can’t expect $100 or more move week by week in these choppy conditions. Sure it can happen as we could see the last week, but the next one can be slow again with the market allowing for 50 or $20 price change again. You never know, maybe not. These are just some indicators warning of to stay cautious and patient and adjust risk and profit accordingly.
Buy: 429.5 Stop-loss: 413 Take Profit: 455; 480; 525
Sell: 396 SL: 420 TP: 382; 355