@MichaelG, yes I've had the same thought when I saw that asian session down move and the current ADR. I also didn't really know if the +5 down move was due to a little bit of luck or if it would have done it in a consistent manner, backtesting is needed here to check the break in the same direction after more than 70-80% of the ADR has already been reached. For my part, I was down a little bit (4pips) and I am still in the trade right now, I almost took the low of the day (minus 4 pips). Props to BillyT, he would have said, no matter where it goes,...
Claudia and a couple of others, spotted my lack of simplicity on my charts eons ago and was kind enough to point it out. Now I go with a line break - anything else is simply to focus my old eyes. And simple is best because, if done properly, you know where to get out if you are wrong, before you enter the trade, and where to take a minimum profit to make the effort worthwhile. Having said that I will not be a threat to the liquidity of global markets anytime soon.
I post little here now because I have nothing new to add to the collective wisdom of this thread. But I love to read this thread and to post the odd abusive comment now and again
every Saint has a past. Every Sinner has a Future
... we'll see. My GU stopped out at BE soon after the original post...it wasn't ready to comply. {image}
