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As long as we started this, we'll continue a bit. Bonds have now traced
a bull wedge within the bear flag. The green line has more slope than
the red line suggesting lack of strength. Further, Curtis Arnold's rule
for trading wedges is that the 40 period ma must be flat or trending in
direction of trade and 18 period ma must be trending in direction of
trade - conditions which are not met here so we won't take the long
trade using this pattern. Note that Arnold's PPS trading rules can be
traded in many markets in many time frames: Curtis Arnold, PPS Trading
System, Irwin.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: "List-RealTraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 05, 2000 9:01 AM
Subject: Re: [RT] Re: Bonds (caution)
> Sell stop under the bear wedge has been cancelled to await a downside
> breakout and retracement. The hesitation in moving back down indicates
> that bonds may need to do a bit more work before moving out. In fact,
we
> will probably see a retest of the bear wedge second PH.
>
> Trading is all about probabilities, not certainties, so we only work
the
> trades which appear to have high probability.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, June 05, 2000 8:47 AM
> Subject: Re: [RT] Re: Bonds (caution)
>
>
> > When the locals intend to push the market, they generally clear the
> > stops and turn it quickly (e.g. back down through the blue line) -
> > inability to do so indicates there is not a firm opinion in the pit.
> If
> > the market does not break quickly from any break under the previous
PL
> > at 96-15, one can expect an attempt to retest the PH.
> >
> > Earl
>
>
>
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