well, wittgenstein, its one of those things. i did not catch this phat move. i am still flat the indexes will determine the next channel figures and post them asap. surffer
OK. Good luck. P.S. With S&P500 index rising for the ninth straight day it was the longest wiing streak for the index since 1987.
the system seeks a break out of the channel to enter the position. however, i am currently running tests on "playing" the channel as support and resistance on failure. surfer
Hey Surf, I've taken ALL my AUD longs off this morning, at the 7600 level. So I'm about 150+ ticks ahead from where we last spoke, and a few hundred more from where I entered first parts. I know it's looking bullish and AUD will ultimately most probably go higher, but I feel like our banks are gonna try to defend the 76 level a bit, so I'm taking it easy, and taking what's there off the plate. Ready to re-enter on any signs of continuation, but waiting for a little retrace here, the R:R just doesn't justify staying long for me atm. Also, taken lots off the swiss long @8500, and cable @18550 (both look heavily overbought and a bit naughty compared to prior day, kinda look like an intraday retracement will happen soon), but might re-enter both before long, if nicer R:R offers itself again. Holding hard long still onto EUR, JPY, CAD (don't know if that's so wise, but they're well up and flying, and I'd rather be in it than out of it particularly since parabolic moves lol). Why is the AUD so bloody lame in terms of movement relative to USD? To a large degree it's because our prime Johnnie Howard (Bushie's favorite bum-boy) has adapted very US-similar policies of squandering national wealth, while trying to offset the massive debts incurred by running our currency down a bit. However, the AUD will (should) still outperform the USD, as our currency is still backed with a lot more relative strength, actual wealth and more solid commodity base. For example, it's more heavily tied to gold relative to our GDP, since we're one of the largest gold producers. We produce about as much gold as the US, but are only ~5% of their size in terms of GDP (and the same in terms of population), so you could almost say 20 times the gold dependency (and gold backing). Actually, we are 2nd largest producer in the world, of which about 80% of the production comes from this very state! Aussie, Aussie, Aussie, Oi, Oi, Oi! Alright, I'll leave you alone now. Nice trading, surf. Enjoy this fine Monday it's gonna be interesting! S