If you want to fail as a trader, study TA

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TE, re. what allowed this opportunity to set up? I'll guess, could it be as simple as taking the break of the range of the previous NRB?

PS. judging by the long bottoming tail (looks like Thursday afternoon's incident of panic selling, supposedly triggered by a cat jumping on to a keyboard and selling a billion PG, :eek: YEAH RIGHT!!) I'd say the second chart was the hourlys from Thurs & Fri this week.
 
Maybe this will cause a more significant rise on Monday, back up above the green zone. It will be interesting to see how markets react:

"The leaders hope to have the new European Stabilisation Mechanism, which would have up to 70bn euros at its disposal, in place before markets open on Monday to prevent investor fears over Greece spreading to other countries with high deficits, low growth or low competitiveness"

news.bbc.co.uk/1/hi/business/8669488.stm
 
Quote from Mysteron:

Maybe this will cause a more significant rise on Monday, back up above the green zone. It will be interesting to see how markets react:

"The leaders hope to have the new European Stabilisation Mechanism, which would have up to 70bn euros at its disposal, in place before markets open on Monday to prevent investor fears over Greece spreading to other countries with high deficits, low growth or low competitiveness"

news.bbc.co.uk/1/hi/business/8669488.stm
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Ahhh The Greek Contagion!! Strengthens the case for pulling out of the EU IMO. Can't believe UKIP polled so badly. Just goes to show how easily the herd is manipulated.
 
Quote from Fibbin-Archie:

Didn't the VIX close over 40 yesterday?
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By saying "Volatility has dampened down now" I mean't that on the hourly chart of BDX the ranges of the bars are diminishing and settling down following events on Thursday.
 
Quote from Mysteron:

By saying "Volatility has dampened down now" I mean't that on the hourly chart of BDX the ranges of the bars are diminishing and settling down following events on Thursday.
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my mistake :)
 
Mysteron: my train of thought to the letter.

Initially a "buy and hold" type trader on LSE AIM, did quite well but very boring and slow.

Then Spread Betting for a bit but hated the SB firms liberal interpretation of the underlaying markets, now been 100% focused on Us markets, this is where the real potential is IMO.

Quote from Mysteron:

TFI Friday, so I can catch up on some sleep, until Monday when it all starts again.

Strange week, a mega glitch on US stocks, didn't affect me as I don't have any, Greek debt which knocked UK stocks, and a UK general election with a hung parliament, no outright winner. All bad things. One of my swing trades got stopped out and the rest are precarious. It just confirms that the gains I had last year, were, at the time, entirely due to the recovering market conditions and had nothing to at all with TA, which at the time I still had some belief in. Its leading me to stop swing trading UK stocks and get to grip with US daytrading, but whether thats feasible given that I work full time, remains to be seen.
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I know I make some dumb posts from time to time (self-deprecation, it's a British thing), but there's some downright weird stuff being posted of late. As for the attack on Jack H, very inappropriate to post on a web forum, even if it were to be true. A vindictive ex-wife perhaps?

Moving from LSE to US markets - same here.
 
Quote from Fibbin-Archie:

I know I make some dumb posts from time to time (self-deprecation, it's a British thing), but there's some downright weird stuff being posted of late. As for the attack on Jack H, very inappropriate to post on a web forum, even if it were to be true. A vindictive ex-wife perhaps?

Moving from LSE to US markets - same here.
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I agree 100%.

Personal details should be omitted from the Weird Wide Web at all costs, for, with the amount of fruitcakes in the world today, anything is possible:eek:

I do not know anything about Jack, be it his personal or trading details, but, I do know that he is coming across the wrong way, and, this will attract the wrong type of people.

Jack is entitled to give his opinions, the same as everyone else, and, as most here are adults:D it is up to each and every individual to make their own choice as to what information they will and will not consider.

Personally, I react directly to the questions put to me. If they are sensible and civil, then I will reply in the same manner, but, if they are stupid and sarcastic, then likewise it will be, for, like deserves like, and the sooner people learn this the better they may improve at trading.

We are all out to make some GOOD money, and that is the MAIN thing, everything else takes second place.

TE
 
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