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Post Drop Digestion Thursday Wrap Up
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Post Drop Digestion Thursday Wrap Up

by The MoleJune 2, 2011

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


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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