Mar 18, 2013

Short term update

UPDATE: The price is again bellow EMA50 on the hourly chart and if it stays there we will have a signal. I will say the system show short signal at 1551 with stop 1559 (3:43).

UPDATE: Its worth a try on the short side(currently 1555-1556) with stop(1559) above the high for the last bar on the hourly chart(12-13 o'clock). Text book entry will be to wait for a move bellow 1545 with stop 1559.

UPDATE: System stop moved to 1544

Ups they did it again:) What I mean? Two weeks ago I wrote that I do not like such moves crawling slowly up, this time 2-3 points per day, because the outcome is one red day and two weeks of gains are wiped out. I look at the futures today and what do I see? - ~1535 the gains wiped out. Can you do something - no. That is why I do not like them and I was out early. This is not for the first time and it will not be the last time:)
I think that this is the trigger for the correction. The question is how exactly it will play out calm down around support ~1530, up till FOMC and topping, or just continue moving lower. We will know this in the next day or two.


  1. krasi, will your system issue a short signal this week?

    1. Only if we see triple cross on the hourly chart. There is no such for now The main plan was up until FOMC and the action today confirms it.