Week Ahead Aug 5-Aug 9
As we continue to breach new highs into air, we find a quiet news event summer-trading week lies ahead. Earnings season is also coming towards a close. Both scenarios provide additional edge for reversion-to-the mean traders including market profile. We seek to get more algo-like in our trading and just trade the value ranges. Of course, anything can happen so we maintain our risk management strategies at all times. Above is the weekly economic calendar complements of econoday.com Monday’s ISM Manufacturing and the weekly jobless claims are the only scheduled news events worthy of note. Let the range-bound strategy begin!