Express Futures

View Thread Return to Index Previous Next

Friends and Traders Discussion Forum

Re: British Pound Gift
By:Rick Ratchford (Analyst - AmazingAccuracy.com)
Date: Thursday, 17 April 2008, 9:51 am
In Response To: Re: British Pound Gift (Rick Ratchford (Analyst - AmazingAccuracy.com))

Today being the center of the 4/17 daily cycle turn window, strategy is required to take advantage of it.

1. Wait for 4/17 to close for the day (4:00pm Central time). This will allow us to see the complete 4/17 price bar.

2. Note whether price for 4/18 moves lower or breaks above the 4/17 high. If breaks high, this is a breakout buy price and longs can be initiated at that point.

3. If 4/18 moves lower without breaking about 4/17 high, look for price pullback to make a lower low than 4/17. This would form a potential swing bottom price bar for 4/18 and provide an excellent buy setup bar. Figure out support candidate prices by using Fibonacci retracement ratios from 4/15 low to 4/17 high.

4. Either buy off support and use just below 4/15 low for stop-loss, or wait for 4/18 to close and then buy off a tick above it's high come Monday.

Personally, I'd like to see a pullback today to lower prices to minimize risk exposure for a buy at this time.

:)

Messages In This Thread

British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Sunday, 13 April 2008, 9:22 pm
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Wednesday, 16 April 2008, 11:43 am
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Thursday, 17 April 2008, 9:51 am
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Monday, 21 April 2008, 9:14 am
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Thursday, 24 April 2008, 5:54 pm
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Tuesday, 29 April 2008, 8:12 pm
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Friday, 2 May 2008, 5:32 pm
Re: British Pound Gift
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Tuesday, 6 May 2008, 3:09 pm
Re: British Pound Gift *PIC*
Rick Ratchford (Analyst - AmazingAccuracy.com) -- Tuesday, 24 June 2008, 12:09 am