no stops for this system, it stops itself out based on future action. some assumptions: 1) all price movement is random 2) in a basket of 20 or more commodities, some will go parabolic over a multiyear span. 3) the excursion will be greater then a specified amout of retrace. 4) pyramiding into the excursion, geometrically 1,2,4,8,16,32,64..etc.. there are some commodities that hit n(pyramid level)=8, or more in excursion. n 1 = 1 2 = 2 3 = 4 4 = 8 5 = 16 6 = 32 7 = 64 8 = 128
Copper hit 9N OJ hit 6N Lumber , Mexican Peso, 1 month LIBOR, Australian Dollar, Euro Fx, and Cotton hit 5N
One could argue that intraday entrainment is stronger then longer (daily) entrainment. 2 components of entrainment -emotion -memory
The commodities with the greatest N at the current moment are: Cotton 5N Lumber 5N OJ 5N Australian Dollar 3N British Pound 3N Euro 3N Natural Gas 3N BP and Euro only active N's.
major short covering, given the macro situation, further selling on increase, expected. low as 71.50 in AH, 73.50 today.
some headers.. ES = 1484 USDJPY = 117.00 usdjpy....at 115.69 currently..expected retrace to 116.00 next 12 hrs. if the rate fails to meet this expectation, then it adds further credence, that the last 8 hr action was a countertrend macro move, to revitalize cap reserves.
What is a "pyramid level"? How is it established? What is an "excursion"? Knowing how you're using these terms enables one to follow along. OldTrader
pyramid level, means a position multiplier. Excursion means, retrace or move, the pyramid level comes into effect when prices move and extend yearly ranges.