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Neal,
Thank you for the feedback, and the tip on going to the next time frame (Daily to Weekly)
Yes, I was able to enter on the rise but by simply looking for significant 618 retracements.
Mid Dec was a great opportunity.
The issue of Thrust still has me a little bewildered, but I guess it will come with more
application.
As I type the chart has momentarily breached the .382, but as you suggest the weekly MACD has not
turned down so maybe the 382 is the resistance.
This is very useful information.
Thank you.
JdF
Neal Hughes
<neal@xxxxxxx To: dlevels@xxxxxxxxxxx
er.com> cc:
Subject: Re: [dlevels] EURO - DOLLAR Forex.
01/17/01
02:16 PM
Please
respond to
dlevels
There were many opportunities to enter on the rise...
It depends on your time-frame...
My Eurodollar data is garbage, so I can't work with
the chart... But this is what I can say, just looking at
your chart....
On this chart there were some good dips to fib levels
(eye-balling, not being accurate here).
Look at the next-highest time-frame please.. If this
is a daily chart, then look at the weekly MACD.. At
what point did the MACD fast line cross up above
the slow? From that point on, you had permission
to buy the uptrend on the daily chart.. So then do some
fib studies, and find a good retracement to enter...
Do you see any?? How about the dip around
mid December?
As for the DRPO... It's not pure enough.. Look at
the thrusting bars in early January.. There are
very few such thrusting bars on the way up.. At
best this is a look-alike, but I'm not crazy about it.
Aside from the DRPO.. You are right, there is
probably a top in place, I would not be surprised to
see the chart turn down... So watch the next
highest time-frame.. If the trend on the next highest time-frame
crosses down, the short the next rally at a fib level...
Does this help?
-Neal.
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