Post Drop Digestion Thursday Wrap Up

I just realized that I named the past two wrap up posts with the wrong day of the week – how embarrassing. Fortunately none of you rodent brain knuckleheads happened to notice 😉

My take away from today’s session: a) it was typical post drop tape – both sides had to digest what happened yesterday and nobody seemed to be very trigger happy today; and b) the bears better strike tomorrow or they’ll find themselves on the receiving end of the stick on Monday.

I wish I could boast about Geronimo today but it won one and lost two for a net loss of 14 ticks. I have not yet touched the short rules as I want to observe them a little bit more. Frankly, when it comes to black boxes it’s always very tempting to start futzing with them during down days but heed my words: Premature optimization is the root of all evil. Those very same short rules worked very well until last week and I need to collect a bit more evidence before I add additional parameters.

The 4k tick EUR/USD chart on ZeroFX continues to deliver reasons to move to a different time zone – if Scott was in Australia right now he would have caught it. Instead he’s chasing long legged French girls in Paris – how I envy that cheeky bastard. Wish I was there – Paris in spring – doesn’t get much better that that.

Anyway, that was one fine top call – and that is indeed a properly shaped signal when compared with others that produced great entries in the recent past. I think the sweet spot on the 4k is a push outside 1.0 on the white line plus a long lonely spike on the blue line with a minimum reading of 3.0 – 4.0 or higher is preferred. That is when you hold your nose and take a contrarian trade.

The 1k panel wasn’t shabby either however – observe those finely timed spikes to the up and down side. Definite edge/potential there.

Cheers,

Mole