Today is such a day, anybody wants to name it for me?? I like animal names, so I am taking suggestions....
Oh that would be bad, that would be a smoke job. This is the 3rd day 1110-1111 has held. I believe we take out the 22.50 high or we go fill that 1106-1105 gap by tomorrow. There's just too much support down there. We even got crappy numbers today and yet no major drop. Bad news, good PA is typically a bullish sign. I'm looking for 24.50 to start taking a short position. The only reason I'll consider a short is because we're up freaking 7% for the month. Does anyone know the biggest percentage gain for a month since the 665 low?
I am short the GBP, and to try something different for the day, instead of averaging against my position, I have now added to the position as it went in my favor. This is my 1st attempt at doing this, I plan to scale out of the add if market continues to go down, and then keep my original position to see if we get a strong run.
3 toed sloth. Moves slow enough to avoid falling out of the tree, yet fast enough to metabolize it's food.
Did you miss the "today is such a day" part? Here is the description of the pattern: 1. Usually starts to drop from the open, but have a bottom between 9:45-10:30. 2. From there it rallies and after hitting the upper BB, it goes about 30% higher than the BB widths. 3. From that high it drops until the W %R hits -100. 4. For the rest of the afternoon it goes sideway in a narrow range. yesterday was the same, except the afternoon sideways part was a bit wide and volatile... Since I already have the dragon, maybe I will just call it the gekko. I like simplicity...
IMO GBP is a buy & target is 1.6 re-test, it just bounced of 200 Daily SMA & Daily trend is up, histogram points to strength. Good luck