Hi all.
Back to the London Fix
The individual I was speaking with did not trade it specfically. He used his awareness of it as a potential entry point. As you will see from it doesn't always do the same thing. Sometimes it marks the bottom of a small swing. Others it is just a nonevent, or a pull back.
I like to think of it as a battle or a Chess game... Each currency on each side of a line (The Exchange Rate) As different pieces get moved around the dynamics of the situation changes. The exchange rate moves. So if London is repositioning themselves with offensive or defensive maneuvering this can give us an entry. My goal is to be on the winning side of this battle and will flit back and forth to be there. There are Trillians changing hands every day. All I want is a very small piece.
I guess what I am getting at is. It would take a lot of research to know exactly what will happen every day when London closes. What will happen if the market is flat?...Strong trend?....Weak trend?....Choppy?.... I don't know if you can always know the answer so that you can take a position. Like all that we are doing it will get down to price action, then maybe the folks at London will be so kind as to give us a pullback to jump on.
Shoot even the names of the candlestic formations often have a military meaning.
This is fun stuff
Back to the London Fix
The individual I was speaking with did not trade it specfically. He used his awareness of it as a potential entry point. As you will see from it doesn't always do the same thing. Sometimes it marks the bottom of a small swing. Others it is just a nonevent, or a pull back.
I like to think of it as a battle or a Chess game... Each currency on each side of a line (The Exchange Rate) As different pieces get moved around the dynamics of the situation changes. The exchange rate moves. So if London is repositioning themselves with offensive or defensive maneuvering this can give us an entry. My goal is to be on the winning side of this battle and will flit back and forth to be there. There are Trillians changing hands every day. All I want is a very small piece.
I guess what I am getting at is. It would take a lot of research to know exactly what will happen every day when London closes. What will happen if the market is flat?...Strong trend?....Weak trend?....Choppy?.... I don't know if you can always know the answer so that you can take a position. Like all that we are doing it will get down to price action, then maybe the folks at London will be so kind as to give us a pullback to jump on.
Shoot even the names of the candlestic formations often have a military meaning.
This is fun stuff
Illegitimi non carborundum - Noli pati a scelestis opprimi.
, as I used to get out of open trade from 10 or something more, while there is anything wrong. The preset SL & TP, for me is a hard break when I lost or a bonus if the price suddenly goes huge to my direction.
