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The key is to stabilize yourself first and then you can stabilize your system. If all elements are stable, then only price is moving and that is what we trade. I didn't understand your entries in 1) and 2), but I would add a comment that when price is retracing as in trade 2), it will try to...

You probably have an uphill battle here on ET. It appears that the majority of Posters are seeking a mathematical or recognition pattern for their trading, thus permitting them to remain themselves. As we discussed on another thread, there are other pursuits in life where it is just not...

you have forgotten all about my question yet again Pek.

Thanks Pek, I will read it over the weekend. Have you coded this pattern or do you prefer to calculate it by hand

Have forgotten me Pek

It looks great, but I am not sure what I am looking at. What is the construction of the line.

I am glad it is all working for you Pek. As you say, it is all in the selection of the trend at the time of the %R ob/os signal. Your skills in this area far far exceed mine.

I can see that you are never wrong

Golly, in that case I have just banked some irrelevant points. You have a curious view on things

glbx high has held for 5 points so far I don't understand you

FWIW, I can't remember a thing, even when I have written it down. To overcome this frailty I have all my s&r horizontal lines programmed into the screen so that they pop up within a few points of price as it meanders along. Right now we are caught between the overnight high and yesterday's close

I guess that you are assuming it will punch thru 10.75, the overnight high.

"consistently" I couldn't agree more. The key to big profit is trading size and the key to trading size is "consistency"

Good on you .... the risk between your fill and your stop is one of the very few things that you have any control over ... pretty much everything else is "market play"

Do you still open your stop.

22.25 is the last serious support from a few days ago .... now price is trapped between this level and YL and Todays Open.

why did you second guess yourself

Why am I thinking that retail sales growth is not keeping pace with real inflation.... forget the core inflation figures that we are being feed. Am I the only one harboring these thoughts.

Retail spending was up 4.4% whilst wages increased 1.7% in 2010. The big trick is to never talk about ALL the figures at the same time, in the same speech, and preferably not in the same week, or even the same month.

What you have in play is a "carry trade". Fundamentally, the Fed hands money to the Banks who in turn buy the Indices, which in turn go up. This in turn has created a disconnect from the stocks that go to make up the Indices. How much more fundamental can it get. One day, the market...