I don't know USDJPY price action kinda feels like last year October - broke out of the range to 110. then corrected to below Q A down and then sprang up another leg up straight to 120... ACD question: you said before that you use quarter levels mostly to mark the end of the move. However what does it mean to you if it makes Q Aup/Adown? Do you then wait for a yearly A (I don't follow more than quarterly, is there any patterns you noticed there?). I personally didn't notice anything that could give the edge after made Q level, sometimes there is follow through but very often nothing happens or price even reverses.
Picture from here: http://www.bloomberg.com/news/articles/2015-07-09/who-blew-up-china-s-stock-bubble-
May I ask the reason? You find valuations attractive? Like China's economy and its future? Expect big rate cut? Think that market already have shaken off overleveraged grandmas? See something in ACD/Price action? What's your timeframe?
Deep corrections often end at the QTR A down. They usually will blow through the monthly levels. So the QTR can provide nice long term entries.
there was a good article in Barron's on this. Not the original article but gives an idea of what's going on over there. The etf TAN had a big stake in this stock looks like they dumped it. http://www.bloomberg.com/quote/566:HK (trading suspended lol) http://blogs.barrons.com/focusonfun...ggenheim-solar-etf-dumps-hanergy-in-otc-sale/
I meant to post that my 30 day on HO confirmed negative two days ago and that would lead to a pop in this spread. So now we have RBOB confirmed positive and HO confirmed negative! Talk about a double shot of Energy!
Hard core Fisher fans might be interested in this. If prompt RB closes above 2.0659 today, we get a sushi roll or a 5 day reversal pattern.