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"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Remains to be seen over the next few weeks and months if it's leading (large retrace likely), terminal (bulls are screwed) or not actually one (nothing can help the bears).
While ES is stuck in the 1730-1750 zone Dax is behaving like a walrus in sludge, so here's my current long term view of the Euro.
Still powering (think Benny riding Gann bicycle) North off the monthly decade hwb, 1.37 looks fairly important for the short-term trend, interesting target would just break the weekly resistance, although that's been largely ignored so far anyway. Remains to be seen if the monthly falls so easily if we do get North of 1.41. Losing 1.30ish might suggest the deflationistas are champing at the bit again.
a) When trading I can still be an idiot at the drop of a hat, repeated same wrongness trigger pulls in particular
b) Still not being selective enough with trades, over-trading as usual
c) I really don't need to open up the Dow/Nyse workspace and play gunslinger just because the Dax was slow
d) Why do I resist taking good setups in favour of counter-trend work??
Dax was still not moving sensibly enough to warrant getting the main account out, maybe a couple of 30 pointers to be had but hard graft to get them, I didn't. Looking forward to more mainstream action sometime.
In the Sprint account I had 10 winners, 8 losers and unbelievably 1 draw (I didn't know it did that, an exact hit of the strike price after time expiry results in loss of a half stake, i.e. -10T as opposed to -20T or +16.2T.) Net result with the inverse R:R I ended off -8T having been up +25T, no great shakes but a huge reminder yet again that PSYCHE is the total maker or breaker.
Ridiculously the market is behaving exactly as I expected in this region - so why don't I?? Anyway, nobody died, it's part of the job that I am still so near to, yet still so far from.
Euro reached its weekly resistance as expected, currently holding extension support while it decides whether to honour it or hit target:
Could get more push up into the monthly or a significant retrace in either case.
And now the lovely Dax (for some reason Ninja has dropped the title bar in the image save).
Soon to die, with a last gasp terminal and a massive deflationary spiral of the over-financialised debt-ridden Western empires? :
Or soon to fly, if the Gann cycle holds up until 2015 and Armstrong's Private Wave continues apace? :
Perception is all, they are the same charts. Government and the public won't have a clue what happened in either case. Oh, come to think of it, neither will I.