Tit For Tat Friday Wrap Up

It’s been a range bound week in which the bulls and the grizzlies exchanged equal blows. Tuesday was a bullish trend day, Wednesday a bearish trend day, Thursday again went to the bulls, and today’s session yet again was clearly bearish. So we finish this week with a tie and although the spoos closed below our NLSL it was only by two ticks and thus I remain a bit skeptical.

Without a doubt a bearish trend day and thus increased volatility on a daily basis. Whatever happens next – it’ll be big.

Geronimo scalped a short trade at today’s highs and I call that a picture perfect entry with some room to spare on the target side. After that it apparently decided to call it a week. And who could blame it – after killing OBL two weeks ago it’s been nothing but kicking ass and taking numbers. It must be exhausted! 😉

But the fun did not stop there. The blue exhaustion signal on the EUR/USD part of ZeroFX was absolutely spot on. As you can see there was a prior signal and something I am learning is that the neighboring blue spikes (i.e. preceding and following) should be of much smaller magnitude to add to its immediacy. Yes, a scalp on the first one would have banked you coin – but you obviously would want to be out a lot faster. Let’s keep an eye on that rule moving forward to be sure we’re not making it up as we go – forward testing is all that matters.

Again, ZeroFX is still available for free – if you’re interested go here to sign up for two free weeks, which most likely you will be able to extend throughout the beta testing period.

You guys asked for a blond and who am I to deny such a humble request? Alright, it’s been a fabulous week and we all worked hard – great participation here lately. Enjoy your well deserved weekend folks!

Cheers,

Mole