Tuning Your Strategy to Market Conditions
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http://www.netpicks.com/tjgiveaway1 - YOUR FREE TRADING SYSTEM

Knowing when there are big events and factoring this in to your daily plan will help you to know when to look out for sideways action. When there’s big economic data due out in a couple of days or there’s big fundamental news out that has a high potential to significantly move markets, the higher timeframe players who move the markets are less likely to want to commit themselves to sizable positions and so there’s an elevated probability of balance/range.

Recognizing this, you can see that taking longs near the highs of the short-term range or shorts near the low is unlikely to prove profitable. However, as the range extremes are approached, any sort of extension failure of the short-term range can give you the confidence to take signals in the opposite direction.

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