those who can, do. those who cant, talk about those who can
- #138,721
- Sep 3, 2009 9:09pm Sep 3, 2009 9:09pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
- #138,722
- Sep 3, 2009 9:09pm Sep 3, 2009 9:09pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
- #138,723
- Sep 3, 2009 9:12pm Sep 3, 2009 9:12pm
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
As you can see 2 channels forming each overlapping eachother forming a symmetrical triangle. When it breaks to either direction the other channel will be voided. Given the range of the upward channel being narrower than the preceeding downward channel and considering the spike up prior to ECB's announcement early london yesterday and the subsequent collapse between 1.4349~1.4300. I'd give the market condition a bearish probability for now due to a wider channel range of the downward preceeding channel being able to confine the upward break tells me bullish weakness, thus NFP needs to barely beat the street or knock the numbers out of the park with a surprise number -50~-100K less than projected (highly unlikely). There should be a whiplash. If price fails on a break up towards the downward channel and fails to clear R1 and R2 I would aggresively short, and sell 1.4300-1.4400strike Call Spreads or have a contingent order to do so if you have a platform that allows it, for those of you that trade derivatives to manage risk, just some CMT insight. Cheers. If you need reference scroll back to NFP of August and watch what happened 8/7/09 fun stuff. Look out below. Other than NFP that's the only driving factor I see to move the market tomorrow(today).
"Diversification is an excuse for a lack of talent" ~FXC
- #138,727
- Sep 3, 2009 9:15pm Sep 3, 2009 9:15pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Not all sins are created equal
- #138,728
- Sep 3, 2009 9:16pm Sep 3, 2009 9:16pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #138,730
- Sep 3, 2009 9:19pm Sep 3, 2009 9:19pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Not all sins are created equal
- #138,731
- Sep 3, 2009 9:22pm Sep 3, 2009 9:22pm
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
you must have a big brain.
"Diversification is an excuse for a lack of talent" ~FXC
- #138,733
- Sep 3, 2009 9:24pm Sep 3, 2009 9:24pm
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- #138,734
- Sep 3, 2009 9:35pm Sep 3, 2009 9:35pm
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- #138,735
- Sep 3, 2009 9:44pm Sep 3, 2009 9:44pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
- #138,739
- Sep 3, 2009 9:46pm Sep 3, 2009 9:46pm
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- #138,740
- Sep 3, 2009 9:46pm Sep 3, 2009 9:46pm
- | Commercial User | Joined Aug 2008 | 7,691 Posts
Do you really can trade just knowing the technical measure with out knowing what happening with the news..??
BIG NO For me
for example you can have all the charts in the world with the best S/R PVIOTS etc.
one major unexpected NFP will bulldoze all
