Please comment on this chart if you have time.
- Thread starter semperfrosty
- Start date
Thanks spooz.
Thats what I was starting to think.
Is your opinion purely chart based or taking into account the current global mess?
A200 index 60min chart doesn't have same WRD candle that futs chart has, but keeping mind here in U.S. the political battle over debt limit raising is not yet settled. So I'd be watching the short side more until things get clarified.
I see several trade possibilities in the short term (10 bars). But I would not enter any of them until I saw HOW the bars are being created.
Past 10-15 bars holding I would not be entering because it is in that 60/40 zone for a lot of them, along with an insufficient R:R ratio. Basically it is trying to decide. Short term down is neutralized, but it is not a Short or a Long, I would expect one or two more range tests, in a narrowing range, and then eventually a breakout.
Predicting a breakout, is a poor choice, but full of glory or sorrow. Waiting for confirmation in the form of Breakout-pull back and new pulse past H/L (3 parts), is one way to play it for the risk adverse.
Past 10-15 bars holding I would not be entering because it is in that 60/40 zone for a lot of them, along with an insufficient R:R ratio. Basically it is trying to decide. Short term down is neutralized, but it is not a Short or a Long, I would expect one or two more range tests, in a narrowing range, and then eventually a breakout.
Predicting a breakout, is a poor choice, but full of glory or sorrow. Waiting for confirmation in the form of Breakout-pull back and new pulse past H/L (3 parts), is one way to play it for the risk adverse.
Thanks again.
Awesome.Thanks BB
Chart based only. I have no idea how to quantify global messes. I do follow economic numbers for context though.
fyi it opened low,got all the shorts in and then stopped them out.
it then travelled right up and let the longs in for 1-4 points before stopping them out on the way back down to where it started.
pretty brutal and a reason why i try not to trade the first hour.
it then travelled right up and let the longs in for 1-4 points before stopping them out on the way back down to where it started.
pretty brutal and a reason why i try not to trade the first hour.
Are you a swing or day trader?
For today, ASX200 didn't move much (just 0.5% day range).
Compare this with today's hangseng movement.
Hangseng moves much more (2%).