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