Looking more carefully at my position. I have noticed we got a classic trendline break in play as well. This makes risk management easier. If price pivots through this trendline stand its a major heads up I'm on the wrong side of the market.
Stop is almost always 1.27 extension of the Mother Bar unless there is something big in play like a gap or major supply or demand zone that calls for a slightly larger stop. It will never be larger than 1.618 extension. The objective here is to discuss Nial's methods with a little bit of a...
The dollar has been marked down previous to FOMC spikey behavior. My thought process G/U will spike down again right before release or or right after so its wise to liquidate my longs.
Here's a long in cable trade idea.
1. Into major true demand level.
2. Hidden VSA type demand bars.
3. USD divergence on no real UK inputs
4. Market is positioning for a non-event FOMC day. Probably just a roller coaster. Large spike up from these values into todays supply areas and then...
In my opinion the real energy behind yesterdays big moves in the New York session was the combination of low liquidity and some choice IB's or near IB's on the daily time frame that just so happened to be multi day NR's as well.
I have recently been reviewing Nial Fuller's resources. Some of his work is actually pretty good. Some of it seems to risky for me. On balance its a good foundation to trade.
I'm not going to become a member to his site because most of what he does is already out there for free and I already...