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For Ray and others who were interested in my Doji Sandwich pattern, I
thought you might like to see how the market fared for a couple of days
after such a formation in the 400 minute chart.
As you will see from the attached .gif file, the market was was determined
to move up following the Doji Sandwich and the only trading set-ups were
long positions. Personally, I am never in the market at the time of
Reports or the announcements of things like rate hikes (!) so consequently
my trading is very conservative, compared with position players who set
their stops in the market and go off an play golf. Nevertheless, with due
diligence and an addiction to the screen, you can safely take out money to
put bread on the table - just through reading the price action and the
patterns made by the market.
Simple stuff, but effective - and not reliant on others or other things.
But be warned that no pattern works in isolation - the whole concept of
tape reading is an holistic approach. Those who are particularly
observant will note a Doji Sandwich on 15, 16 and 17 June, but it was not
in the right circumstance - particularly for a daily time frame. Again,
how far this particular up move in the bonds will go, is guess work - and I
must leave that to the position players and their EW and Gann theories -
for me, it is each day as it comes and the price action talking to me.
Hope this helps.
Bill Eykyn
www.t-bondtrader.com
Attachment Converted: "c:\eudora\attach\0628 - Doji Sandwich on 400 min chart.gif"
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