Daily Reflection: 08.05
This week we have been trading within the value area each day resulting in complete chop. Looking at a daily it’s clear that we are in a period of consolidation. The more we move sideways after a gap the more likely we are to break in the direction of the gap once the consolidation is over. Therefore, we are looking for a resume to the trend and move higher. Tomorrow’s Employment Situation is the big news at 7:30 CST so…