Baruch said:Maybe. But BB doesn't seem to work anymore. We just had 3 trades in a row with no profit - and we also had problems last week.
well, i see what could be a symetrical triangle, and that would explain the chop chop until it breaks out.
for some reason, what i have seen before, is that when several days are contained in a consolidation pattern like this one, BB tends not to work. for me the lesson has been that one needs to also look for other patterns in the larger time frames that may contain BB, and deal with BB in context.
BB is an excellent strategy in different market conditions, and you know it.
jacinto
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Baruch said:Maybe. But BB doesn't seem to work anymore. We just had 3 trades in a row with no profit - and we also had problems last week.
It's a bit early to say that a system that has been successful for a long period of time no longer works. I agree the last 8 days haven't been good but I'm sure it will return to normal soon
jacinto said:
I've drawn an uptrend line on my 240 min which was broken yesterday, but the market hardly reacted to it. So it isn't ready to go down yet. Euro looks like it is just treading water at the moment. You could be right about waiting for NFP. During yesterday's news, price started to move a bit, but otherwise, this is very spiky push-pull kind of stuff, where it is really easy to stub your toe.
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I'm still struggling with this market. Got filled on my long breakout order at 728 so lost 30 points. Now short from 667 but looks like a stop at b/e. This is the worst run for over 6 months by some margin for this (normally) successful method....
