|
PureBytes Links
Trading Reference Links
|
RT's
Sugar looks interesting again.
On Jan 27th, Jeanne Long in her Astrological Almanac (printed some time in
1997) had a reversal for Sugar.
On Jan 27nd Sugar made something that could be labelled a Bullish Hammer,
if you don't agree, it was a wide range day with volume well above it's 21
mov average. Hence this could very well be a reversal day.
28th was a new moon and Cineese New Year
This day is also a one year aniversary from the last important bottom in
the March contract (1/23)
The retracement from the Jan low to Nov high in the Cash price is 78,6%
(Square root Phi) a retracement level often seen in connection with trend
reversal.
Looking at the March contract we see a very well defined 5 wave decline
from the Nov top, where wave 5=38,2% of wave 3.
The decline lasted 57 Calendar days (Fib 55) or 36 Trading days (Fib 34)
There are also some shorter time relationsships that confirm the bottom,
which I won't bore you with, though.
There is also a nice divergence in RSI/Stochastic in relation to price.
This looks like a good risk/reward trade with a STOPLOSS at just below
10.89 in the March contract, although I plan to enter the May conrtract,
--------------
Frank Taucher's Trade of the week is: long Canadian Dollar. That one also
looks interesting
Check it out at http://www.supertraderalmanac.com/trade of week.htm
As a matter of fact I entered this morning, since since we had an
astrological reversal day on 1/27 and 2/4. The bottom(?) was on 1/29 just
in the middle. Confirming his suggestion.
Check out Dollar (in Deutchmark, the way we see it in Europe) by the way.
The reversal came just one day short of the 1/27 currency reversal day
Jeanne Long marks in her Almanac. We COULD see a continuation Inverted Head
& Shoulder forming right now (right shoulder).
this would be very interesting (if it forms and we have a break), since we
then will have a FAILURE of an inverted H&S FAILURE!!!
The interesting thing, is that failures brings volatile reactions and
failures of failures bring even more volatile markets in my opinion.So keep
an eye on Deutchmark.
(Who said keep it simple...?)
Failures (in this case the decline from 1/19-1/26
Observe that we have broken the rising trendline HS downside and then again
closed above it, and that we have a minor (positive divergence in
stochastic)
Regards
Stig
Attachment Converted: "c:\eudora\attach\SUH82.gif"
Attachment Converted: "c:\eudora\attach\Cash.gif"
Attachment Converted: "c:\eudora\attach\dollar.gif"
|