Inverse H&S in 8 hour chart in USDJPY
http://www.elitetrader.com/vb/showthread.php?s=&threadid=108306&perpage=6&pagenumber=6
, I don't know whether Chinese will buy TL support. I have never looked at USDJPY effecting Asian markets, so no comment, but ImO US needs to close with a rally...
But there are traders that only participate in an opening range.
Another comparison can be made with boxing/martial arts, the quicker you whack your opponent the better :)
Nice trade so far AS, we are just below 2 day declining TL. Will you scale out or stay all in?
Side note, Hang Seng daily chart needs encouragement to not sell off next week, so we could get a rally over 8000 today, but I would still scale out.
As I said I do not trade off dailies etc, but I think it would be prudent to scratch the head and consider being at least neutral at the moment. This is just my opinion, not a call :)
You could be right, could be wrong. I don't trade long term charts, I just voice an opinion on them. There is way too much noise on longer term charts to base trading decisions using high leveraged futures in my case and I don't have any interest in trading 1 lot positions in YM nor ES.
The...
10.32am 4th higher dip registering, but definite lack of interest from buyers so far, hmm. Getting ready to bail on this one, as 3rd lower peak can take price quite a bit lower.
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