Look at this 5-minute chart of the Russel 2k. From open till 11:00 AM there was high-volume & persistent selling which took the markets steadily lower with no successful pullbacks. Then it went flat. This is totally normal after such a move not to mention during the lunchtime hours.

Price stayed in a very tight and controlled upward channel with low volume. I have highlighted the volume and traced out the channel that I used for my entry (marked by the red arrow).

At the close of the 12:15 bar the 5-minute TRIX turned red, that was signal # 1. The following bar triggered my Sell-Stop as price broke down below the channel; This was signal #2. The close of this bar fired off a Vol- confirmation for signal #3.

The next 60-minute support level wasn’t until 708 so I settled in and played a game of cards while I waited. A couple hours later I took profits as my target was hit and in 1 play made back twice as much as I lost during the whole of my horrible day yesterady.

You gotta love this job!