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Just to make the point re- day trading, as opposed to scalping the T-Bonds:
Today, was just one trade from after the Report. The deep downthrust on
the 5 min chart got you in - without drawing a fast gun from the holster,
you would have got ^02 at best or 04^ with ease. Let's say you were really
badly filled, with your gun still in the holster at ^05 or ^06.
You then rode it up to just under Yesterday's High. It then went through
and finally did another Third Time Through and is currently stalled on the
re-jigged S1 line. If it makes it to Day Before Yesterday's High, it may
well reverse off for a 'thank you' retracement before the close.
We are talking one trade here. One. I don't call that scalping. Your stop
was never likely to be hit and you should take home around ^15 to ^20 per
contract - without an indicator in sight.
Anyway, have a look at the chart. It's supper time in England - or rather a
drink beforehand. Cheers
Bill Eykyn
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