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I don't believe that it is quite as compelling as the attached chart which
gave a sell signal the morning of 7-14 in fact gave you 3 opportunities
to sell and cover and sell again. It also gave 2 sell signals on
the 17th all with distinct Entry Prices and targets. Nothing really
sophisticated, just good eyesight and 5th grade math. As the saying
goes," a picture is worth a thousand words" Ira.
<p>T-Bondtrader wrote:
<blockquote TYPE=CITE><style></style>
<font face="Arial"><font size=-1>If
you read the immediate responses on my brief post, before the market opened,
you will see just how complicated it must be to trade on an analytical
and fundamental basis, as a position player. Just consider
the thought and maths that went into them...!!!</font></font> <font face="Arial"><font size=-1>For
me, as a daytrader, I saw the pattern, saw the 2-bar reversal, checked
a few other basic points of support and resistance, added two and two and,
as it were, then read the tape. No incredible workings out about
this or that wave, what the fundamentals were doing with bonds or elsewhere
- simply, on what you could see on the chart, what was the market pretty
likely to be doing today, Monday....</font></font> <font face="Arial"><font size=-1>Well,
I have not been sitting in front of the machine today, or I would be up
a big point a contract now and feeling it was time to pull the plug and
pull a pint. As it is my puts are up by somewhat less because
of all the factors that affect options and which do not affect futures...!!)
Still, I have cashed in to make a free trade, so might as well let them
ride for the time being. But day trading, reading what the chart
says it is doing, has to be, for me, the most profitable way of collecting
your daily bread, without too much risk or fuss...</font></font> <font face="Arial"><font size=-1>Study
the attached chart, which was put on the list before the market opened
and you will see that it does not take a gargantuan brain to imagine what
it has done, and that what it has done was what it was most likely to do...
After that it was just a matter of applying a decent r/r/r and QED!</font></font> <font face="Arial"><font size=-1>As
for guessing the outcome of the Report tomorrow.... as far
as I am concerned that is gambling. Far, far better to
let the market tell you, show you, and then make your move by reading the
price action in front of you and taking it from there...</font></font> <font face="Arial"><font size=-1>Bill
Eykyn</font></font>
<br><font face="Arial"><font size=-1>www.t-bondtrader.com</font></font>
<br><font face="Arial"><font size=-1>"Learn to read the tape"</font></font> </blockquote>
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