You're right, the more filters you have, you'd be getting closer to curve fitting. The best test of a system is to see how it performs on uncorrelated markets. If it completely falls apart, then that's a big warning sign.
10jan euro trended up towards TL resistance on channel with 38.2% fib of fridays move giving reistance . took profit at 13105 just now as it is nudging trendline resistance of channel . will look for price action to initiate next entry . profit on this trade 55 pips
Just went long on EUR/JPY at 135.30. Way oversold on the daily, and all this Issing crap can't withstand forever, methinks. Stop at 135. Target - ? -Ivan
Did anybody trading futures click to buy the Euro right when the trade balance was released? My retail spot platform doesn't work very well for a few seconds after important numbers come out and I'm wondering what kind of a fill people got on Globex. Cheers, TRADERguy
I didn't trade today but usually just before the big number releases, the bid/ask volume dries up so it's pretty much like wild west around the number releases.
Yes, that's one of the reasons I switched to spot but when I can't play during the fun times I wonder if I made the right choice. If anyone traded the futures after the number, especially if you waited a second or two to make sure you didn't get your face ripped off, I'd love to hear what kind of a fill was possible. Thanks, TRADERguy
Yes it was pretty wild around the number - I managed to slip in a long which I'm holding on too. I'll be curious to see what happens now - whether the show of USD strength was a correction(long overdue) and the EUR is due to continue to new heady heights is up for debate... if that is the case, was 1.3040 the base to start the new onslaught from... I'm not sure. 1.3440-70 seems the next serious resistance level - maybe the retracement is not done just yet and 1.28 looms - I'll see if this rally loses steam quickly or gathers some impetus over 1.33. Your thoughts?