PS, I think your chart would look even nicer with no grid or a very faint one
Chris
Silent room 2 replies
Silent Success of Patience 10 replies
My silent journal 4 replies
bo7a method... method for GBP/JPY 205 replies
Seeing Through the Silent Crash 4 replies
DislikedNice trading Arfer - should get you a few beers in the Winchester!!
PS, I think your chart would look even nicer with no grid or a very faint one
ChrisIgnored
DislikedThis is surprising. I would have thought you'd be looking at the big weekly bearish pin off of $50?Ignored
DislikedEurnzd looking good and this usdchf monthly trendline looks interesting.Ignored
DislikedAre the South Bound Trains hitting up their engines ready to take off? Looks like it...........but the charts will tell us................Ignored
DislikedIt is hard to tell really. It appears that rallies only really happen in NY at the moment. (This is because Manhattan has no idea there is anywhere else in the world.)
I have noticed that it's down or sideways everywhere else most days - and NY gets overly optimistic, and then repeat the cycle. Odd really. Setting up for something really nasty in the long run I think.
ChrisIgnored
DislikedIt is hard to tell really. It appears that rallies only really happen in NY at the moment. (This is because Manhattan has no idea there is anywhere else in the world.)
I have noticed that it's down or sideways everywhere else most days - and NY gets overly optimistic, and then repeat the cycle. Odd really. Setting up for something really nasty in the long run I think.
ChrisIgnored
DislikedSeems to me like the smart money has stopped "climbing the wall of worry" to use a CNBC favourite. Looks now like retail investors are buying on dips which is always the best sign that things are now over bought.Ignored
DislikedCW,
Seems to me like the smart money has stopped "climbing the wall of worry" to use a CNBC favourite. Looks now like retail investors are buying on dips which is always the best sign that things are now over bought.Ignored
DislikedOverbought after a 12% correction in less than a month? I don't know, you could be right, but how are you measuring the demand of retail investors vs. what the "smart money" is doing? What metric are you using to determine that we are overbought?
Don't get me wrong, there's plenty of reasons to be bearish (unemployment picture, europe, potential war in N. Korea) -- but after a decline like this I would have thought overSOLD -- i.e. look for bargains with tight stop losses.Ignored
DislikedChris, funny what you were saying about retraces in the UK afternoon (New York open onwards). This is eurnzd on an hourly chart, that's a big move up and now dwindling back down. I sold some more as it looks right on the 4 hour chart too and I've got plenty of profit locked in to cope with losing on this one . That's 5 positions on this pair now, something like 700 pips locked in.Ignored
DislikedOverbought after a 12% correction in less than a month? I don't know, you could be right, but how are you measuring the demand of retail investors vs. what the "smart money" is doing? What metric are you using to determine that we are overbought?
Don't get me wrong, there's plenty of reasons to be bearish (unemployment picture, europe, potential war in N. Korea) -- but after a decline like this I would have thought overSOLD -- i.e. look for bargains with tight stop losses.Ignored
Disliked
What are your thoughts going forward from here? I am finding it difficult to justify for hunting counter trend plays with volatility as high as it is.
Cheers.Ignored