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I had several requests for an example of the "Spike & Ledge" pattern
that I made reference to in an earlier post. Although several occured
in September in the bonds, the most recent clear example was on August
27, on which day GDP was released.
Bob Hunt
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Bob Hunt wrote:
>
> The "Street Smarts" Spike & Ledge pattern technique is an excellent
> way to trade these with limited risk. You enter just past the extreme
> caused by the first reaction off the spike (the ledge) with your stop
> just past the reaction off that level. I use it quite frequently on 5
> min. bond bars, especially on the big number days (GDP, PPI, CPI, and
> the BIG Kahuna, EMPLOYMENT!!! - which, by the by, is coming up this
> Friday!)
>
> Bob Hunt
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