Show us the money Chick

[JonnyT]

Inspired by the book, but remaining to be convinced I thought I would open a thread to discuss trades in real time.

I have chosen the GBP Globex future (you can trade the Spot based on this) as the Forex market is very liquid.

Chick himself suggests that Currencies are the best trending markets.

So here is the up to date chart.

Please everyone have a go at analyising the chart and lets see if we can all make some money together.

On the chart the blue line is 1 for uptrend or -1 for downtrend defined by a comparison of the closing price 50 days ago.

So cummon get posting...

 

[Bigbusiness]

I was going to read the book properly over Christmas but I was given another book and I am half way through that.

This is my excel chart for the £/USD. There is a buy signal back on the 21/10/04 and the chart still looks bullish. Shame I didn't have the book back then

 

[s-a]

Guys,

We are crosscurrent right now. As Chick describes, in crosscurrent markets we typically get sideways choppy sort of trading. This is exactly what we have had here. In 2 days the SL will be at a low point and then start moving sharply higher so even if we get much up from here, price will really need to keep moving quickly to stay ahead of the SL bars being dropped off. Daily lines say sidelines to me. 3rd lower high in SL too so momentum quite strong to downside but trend still very strong.

For me, strictly short-term right now as daily lines do not look good for holding anything much more than 2-3 days.

HG

 

[gene]

JohnnyT,
With your Sierra Charts, do you subscribe to MyTrack? If so, does the subscription fee cover real-time data from US exchanges without you having to pay fees to the exchanges?

 

[rog1111]

FWIW short term I don't think I'd be happy being Long.....I just don't like the look of it.
But then, you never know !

rog1111

 

[JonnyT]

JohnnyT,
With your Sierra Charts, do you subscribe to MyTrack? If so, does the subscription fee cover real-time data from US exchanges without you having to pay fees to the exchanges?

I only subscribe to the Bronze EOD/Delayed package

JonnyT