Hi Malcolm
I have been silently following your thread since almost the beginning and I appreciate a lot your technique, your knowledge and your helpful attitude.
I live not too far from you: Cortes Island and I was visiting relatives in Vancouver last week.
I almost killed myself trading till 4:00 or 5:00 in the morning and sleeping very little for extending periods of time… I didn’t think about your way though (trading 4:00 to 9:00 pst) It’s a brilliant idea, I might try it, although I’m more of a night owl than an early bird. Anyway since a few weeks I’m working on another way to deal with our Wild West day light time handicap: trading the H4 and the daily.
I don’t use the RSI although I still have it on my charts, I use a fibs break out technique (Bo and Skunny style). I find RSI gives sometime too many false triggers.
Regarding GJ, I made the same ‘discoveries” than Scotty, no wonder he also followed Skunny’s thread. I think we might enter in a ranging period. On a W1 chart if you put an horizontal line at the top and bottom of this week’s range and look back on the other side of the head and shoulders, you’ll see that GJ has been ranging around these levels from Sept 2002 to Jan 2006 so it had the time to build some strong S/R. Actually it was ranging nicely between 189.50 and 205.40 mark from Dec 2003 to Nov 2006 a nice easy 1600pip range.
205.40 has been (to the pip) march 13th’s (lower) high before the recent big drop and the bottom of last week’s range (192.60) is also to the pip the last low it made in July 05, before leaving its multi-year range.
Regarding EurCad, reaching its 1.5930 target completes a cycle (with a little extra for the upward hint) and the pair looks bound to drop and test the 50 line or at least range and consolidate for a while (take this with a grain of salt, I'm still a newby). Without explanation Eur/Cad has suddenly disappeared from their list of pairs on ODL securities, I wonder why, anyone experienced that??? I still have it on another feed.
About rram2’s last post, here is an interesting article http://www.safehaven.com/article-9742.htm
Keep up the good work
Schmurex
I have been silently following your thread since almost the beginning and I appreciate a lot your technique, your knowledge and your helpful attitude.
I live not too far from you: Cortes Island and I was visiting relatives in Vancouver last week.
I almost killed myself trading till 4:00 or 5:00 in the morning and sleeping very little for extending periods of time… I didn’t think about your way though (trading 4:00 to 9:00 pst) It’s a brilliant idea, I might try it, although I’m more of a night owl than an early bird. Anyway since a few weeks I’m working on another way to deal with our Wild West day light time handicap: trading the H4 and the daily.
I don’t use the RSI although I still have it on my charts, I use a fibs break out technique (Bo and Skunny style). I find RSI gives sometime too many false triggers.
Regarding GJ, I made the same ‘discoveries” than Scotty, no wonder he also followed Skunny’s thread. I think we might enter in a ranging period. On a W1 chart if you put an horizontal line at the top and bottom of this week’s range and look back on the other side of the head and shoulders, you’ll see that GJ has been ranging around these levels from Sept 2002 to Jan 2006 so it had the time to build some strong S/R. Actually it was ranging nicely between 189.50 and 205.40 mark from Dec 2003 to Nov 2006 a nice easy 1600pip range.
205.40 has been (to the pip) march 13th’s (lower) high before the recent big drop and the bottom of last week’s range (192.60) is also to the pip the last low it made in July 05, before leaving its multi-year range.
Regarding EurCad, reaching its 1.5930 target completes a cycle (with a little extra for the upward hint) and the pair looks bound to drop and test the 50 line or at least range and consolidate for a while (take this with a grain of salt, I'm still a newby). Without explanation Eur/Cad has suddenly disappeared from their list of pairs on ODL securities, I wonder why, anyone experienced that??? I still have it on another feed.
About rram2’s last post, here is an interesting article http://www.safehaven.com/article-9742.htm
Keep up the good work
Schmurex