Discodave ----10 Sep 2016 11:57
Morning, matey .
Shocking drop back with AHT with more to come , i would think, on monday morning considering the Dow dropped so much !!!! ---
Just shows you the truth in the old adage " sell the rumour , buy the fact " doesn't it ????
For scalping i trade the 1 minute --- mostly trading Long when it drops into 1 minute oversold rsi or on any oversold rsi divergence signal.
It just kept dropping yesterday tho' --- even into the close , but considering the daily is now very near oversold and the 4hrly. & 1 hrly are so extremely oversold then i would honestly expect some sort of relief bounce at some point very soon .
Whether it holds is any ones guess --- but this is the time of year when we get these traditional drops before rising into the year end ---- check the Dow charts since 2009 and you will see what i mean . !!!.
The 4 hrly & 1hrly are " swing traders" preferred charts -- i also plot 8dma & 21dma ( instead of 13 & 26 ) and 252dma ( instead of 200dma ) . along with standard 9,13,26 macd .This all gives you a better picture of what's likely to go on !!!
Of course massive red candles on all time frames into the close on the Dow traditionally point to further losses i'm afraid , so i will watch the Futures when they open sunday night very closely .
Unless they show a bit of a recovery then the Ftse100 is set to take a dive and give us a sea of red over here as well ---
Sorry to hear your demo trading didn't go well --- i don't trade FX at all atm. but some of my colleagues do .
Not really sure where AHT is going to find a " bottom " on this leg down !!! but i suspect 1200p may be seen .
GL sir ---- and again sorry to all for so much OT ,