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- 9 June 2011
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lol as absurd as the ms paint pic is it actually made the penny drop for me.
One more pic, more to show off my mspaint skills than anything else
View attachment 54272
If I have one of those high volume spikes I am looking to fade (short), I like to see the rounding on the top, not on the bottom. In the picture I like the setup on the right.
The one on the left is running into limit orders on the retrace
The one on the right is running into limit orders on the retest
Here's another one that i see sometimes, a strong impulsive sort of move, followed by a little consolidation then a break out to a measured sort of move, then a fail all the way back to the consolidation, sometimes lower again...
This may be what you have got there CanOz, watch out for the little sucker up turn in the middle at "b".
Diagram is from here with my additions http://www.babypips.com/school/abc-correction.html
This may be what you have got there CanOz, watch out for the little sucker up turn in the middle at "b".
Diagram is from here with my additions http://www.babypips.com/school/abc-correction.html
The way it's drawn there, it's a head and shoulders reversal, one of the most reliable patterns in the book.
You got any stats on that? Personally I reckon its just more TA myth. For which I have some stats. I followed the H $ S thread somewhere on here and it was running at a absolutely miserable 16% win rate and then the avg win was only 1:1!. Basically F'n hopeless "pattern".
You show me your stats and then I'll show you mine.
Hi Boggo,
Given the benefit of hindsight, would you buy the package that all your screen shots,well except this particular one, come from again ?
Txs.
New thread here Caveroute
https://www.aussiestockforums.com/forums/showthread.php?t=27370&p=793003#post793003
OK FTSE boys where are you?
Last two days have been pretty bullish, finished a long way off its lows, leads me towards a bullish bias, especially with asia being decently strong today.
Trade what we see I guess!
Choppy slow day of trade, maybe a test of 6532...
miserable Monday...
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