Thanks for the offer but I never trade anyone else's calls, that way if I make a mistake it's my own fault Just closed my shorts for +30, I'll wait until after US data and get back in short, then tomorrow's IFO maybe more opportunities. Happy trading all!
No no, of course I talked not about following others calls... I never had respect to pathetic handholders trading other people calls. All people here trade on their own... I meant just the discussion of the market and approaches to trade it.
Banjo, Hey, where are you now? You succeeded. That's development of current up channel on your screen?
Finally got this to work:, this is what I wanted to post the other day, it's in relation to yoohoos time posts. Hope I don't screw up the thot process for anybody but this is a fairly rare occurrence I wanted to point out . This is a diamond pattern , they are found at the tops and bottoms of trends , they are most powerful on longer TF's. chart #1 is what I first saw a few days ago when there was a possibe uptrend in the making, #2 I had to correct the trend line, the mkt tells us where the trend is , we don't tell it, #3 tells me the the TL is correct and the diamond is prolly complete, the diamond represents the contraction, indecesion, contraction of energy, it releases pent up energy and forms a new direction. #4, the channel remains intact even under pressure. #5 where we are now. It will take time for the channel to play out . CF, remember in chat when student questioned my going long @5350 and chi was shorting, this is the pattern I was seeing the possibility of. Don't try this at home unless you are very experienced. It's an example of a longer term play and the use of time as an element in trading.
Banjo, A ha, I see now what you are showing there, the development of a pattern... I won't be reckless with it and follow your warning but will try to notice in future those points where channels overlap and form such patterns so that prolly will trade them in future...
Banjo, Did I understand it right that you entered before the diamond pattern was formed (as you longed @ 350) it was more like at the return from third test of down trendline?
yes, I could see the potential as the probable left side of the diamond was there, which would give normal TA even more of a thrust if it developed. Pay attention to yoohoo, not this play, it will only take you off track to be looking for 1 more thing, I just wanted to use the opportunity to point out diamonds as they can be powerful.