This is an Edge of Chaos. It's sustained by option players who defends their position. Especially against JPY. Once they left, sold hard. Very hard. I see the upside move somewhat unhealthy manipulation. It can't last long. Dunno it's GDP or FOMC or Employment situation number, but x-day is coming ahead. Time to release the distortion.
Why your comments deleted? By the way, today is the reversal day, can't go up higher from here, and testing the buttoom again on Tuesday early morning -asian session.
okay, trade #5, I took lighter contracts I entered short YM this morning so I have a lot of capital tied up in that looking for a dump tommorow, so I'm less than 1/2 size now. Trade #5, shorted 1.2063 stopped 1.2076 out -13 PIPs. Tried early entry. I'm trying to enter on 1 more setup, if it doesn't go this time I'll call it a day on this trade.
no, i had stopped before that spike. It looks like it may not be till next week until entry, feels like a short squeeze now. I'll update if I enter again.
empee, what made you think so sure on the short bias at the 1.33 peak point? can you enlighten us the major factor you looked at there? thanks.
smooth, i dont want to talk too much about my methods but I got a signal on dow jones yesterday morning so as you can see look at the dow jones. Today jones should make a huge thrust down like a huge red candle down. (I'm short, the signal was at the open i'm short ymz5 from 10443). Once/IF the move trigger in euro you should see monster red candles and it moves almost straight down to a oversold condition, thats why I say you'll know it when you see it. If you look at when I posted on EURO trade you'll note that the trade sold off almost straight down 3-4 days in a row (look at chart), thats why I covered 1/2 my position on that. My method is based on human psychology, not technicals or fundamentals. I am measuring greed and panic. Yesterday I got a signal that the EURO was going to rally, thats why I stopped trading. The countertrend signals aren't always reliable (ie if looking for a breakdown) so I dont take them. thats why I stopped trading and stood aside. My hope was that they would take the price higher to give me a better entry if it sets up again. I posted because this was a trade of the year for me (i had 1 other earlier this year). Now it is getting a bit blurry, this doesn't mean it isnt going to happen, it means that because of my tight stops I haven't seen a entry that afford me my tight stop. Lets see if it sets up.