JJ...i believe in always having an open mind, believe it or not...always striving to improve the trading..a trading plan/system must fit the individual personality.... ..good trading my friend, i wish you all the best...i will try real hard to be positive with my comments....happy trading
OK guys. Tuesday is approaching fast. I am thinking that the market is going to be up tomorrow. It is basically the first day of after summer/vacations trading and all the big dogs are going to be present tomorrow morning and need to make some $$$$. So far no new bad news has hit the airways and old news is just that... old. Chances of a rate cut are still distant and rather unlikely so the market will have to push without it. Let's hope all that extra oil and Asian money will continue to be parked on our side of the pond. As for the AH market, I was there when it printed 1477.50 ready with my 10 contracts and .... chickened out. Profitable trading to all.
...you mean ready to short at the 50% retracement (1477.5) of the initial drop ? edit... now we are at 1469
....brown parallel lines represent rate of ascent which (may) be impossible to maintain for now..... ....and which brought us above long-term channel .... above which we still are....