Thanks for the heads up Can. I thought you might be interested in a different perspective. I didnt see a double bottom pattern, it had too many peaks in between the bottoms and the main peak was not in the middle of the bottoms, and in any case it was a long way from confirming, but I thought many would trade it, which it seems they did. I thought I would check when the US woke up and see if the big boys would come in and trigger their stops. I saw the bars on the 15min chart had hit the MA, so I switched to a 2 min chart and took the short signal the system I am testing gave, and let it run with a trailing stop for a profit of around 3 times risk. The trailing stop didnt trigger but I exited when price jumped back over the MA. No vol, no DOM, no Tick charts, no patterns, just a moving average and a trailing stop while watching TV. (The other market that I am testing on also picked up 50 points at the same time) It's early days and usual disclaimers apply. Just thought you might be interested.
View attachment 52475
Pretty much pure price action, Al Brooks style sort of
Thanks but i rarely trade currencies...i do like to see the order flow, one day i suppose i'll have another crack at gold and crude live...
Good trading...
CanOz
glutton for punishment, crude and gold are nightmares... hang seng-esque in volatility and order book
haha as soon as my call was made public I knew we wouldn't get a rally I was expecting
Next downside target around the 0.9370 mark
i'm long again Prawn... ent 95727 looking at that last move down as final by the bears... looking for 98-99
Yeh fair enough. Daily close above 0.96 is a positive sign for longs
Yeah i know...but better the devil you know sometimes....
There are heaps of little things on each markets that i have come to appreciate. Besides, I've had them open on my desktop for so long now they're like a pair of screen savers.
Are you still spreading Whitey or did you move on to other things?
CanOz
also long EUR/$ on 1 hour with a upside targer of of 20 pips opened start of this 10am hour bar. ent 1.29473.. SL 1.29290
However I'm expecting .92 then .85 where it will eventually settle between that an .80 for longer term IMO
Will-the-aussie-dollar-fall-to-60-us-cents[/I]
According to some analysts reason for coming dollar fall is lower commodities prices. ]
Total rubbish. These morons build these retrospective stories after the fact, trying to find a reason without seeing the elephant staring in their face.
I is simply the 'surprise' recent interest rate cut that found the inflection point.
These 'stories' can however add weight to the downward sentiment once the slide has begun.
glutton for punishment, crude and gold are nightmares... hang seng-esque in volatility and order book
What does that even mean?
Hang Seng Index, Hong kong futures exchange. It's fairly thin and moves really quickly with 100+ tick moves. Orderbook is just the DOM, ladder, etc. Hope that helps.
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