- Once again, lured into trouble by "best looking chart". Perhaps I need to assign equal weights to trades regardless of beauty of chart pattern. Also re-examine practice of exit only upon weekly close confirmation. To be fair, I had been lightening up all week, but just not quickly enough.
- USDX : Failed uptrend below 76.72.
- US10YY : Looks even better to go long TY now than last week.
- SP500 : This and AUD are the ones that got me completely floored. Now we are above the old triangle. I don't know what to do.
- Gold : Still looks a bear flag to me.
1 comment:
Hi TS, try incorporating Fib levels in your chart analysis. As we all know prices never move in a straight line. There will always be retracements, and you will find that the 50% and 61.8% Fib levels appear very often in retracements. For example, the current DXY reversal looks like a fail of the support / trend line, but if you treat it as a retracement, it has stopped pretty close to the 50% level today.
Just my 2 cents worth. You know best what works for you.
Cheers.
Pandu
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