Don’t follow someone else’s trading advice blindly
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The Most Influential Chart On The Screens
I often refer to the collage of markets in the chart in Figure 1 as the most influential macro chart on my screens. The chart highlights that we get the largest moves when the markets are moving together, and also highlights which market is in the alpha position, which is extremely important for intraday trend traders and for short-term momentum traders. At the beginning of the week all markets had turned lower together, which is uncommon. Generally the markets take turns dropping off and correcting lower one at a time, much like a flock of geese changes leadership with each adult taking a turn flying point while the ... (full story)
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