Wednesday, 25 January 2012

Wednesday is Fed Day

The market anticipates comments from the Fed that U.S. interest rates will stay low for a long time. There's a press conference today in line with the new Fed policy that mirrors that of the ECB.

The DAX chart - 3 point Renko - is a biz as usual type day. The last two trades were outside in and the last trade was a double down of the second last one. The stop on the trade was the high to the left at 6409.5.


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5 comments:

  1. Anonymous25 January 2012 at 15:55

    Tom,
    From reading the blog it seems there are others who are one lot traders like myself, so I thought I would share a little information. I have a small account and trade one lot so risk is important. I lately have been trading the emini Nasdaq which I find to be a very relaxing market for me, yet it provides good trade setups and the EL methodolgy works well. Lately I have been using 4 tick Renko charts and having fun. I am working to improve my win rate but have been CP for awhile now. My win rate is about 55% so a small improvement would greatly improve my profitability. Hope others might get something from this post.

    Nick

    ReplyDelete
  2. Electronic Local25 January 2012 at 18:19

    Thanks Nick. Well done.

    ReplyDelete
  3. Rydham Trading25 January 2012 at 19:05

    Sir,
    I want to trade stocks in daily charts. Now I am able to get 33 EMA, 99 EMA, 45 CCI, 6 CCI, MOM DOTS, 30/3 KELTNER CHANNEL indicators on my chart but not managed to have Market profile chart, RANGE BARS chart, VOLUME BREAKDOWN, VOLUME DELTA indicators.

    Can you suggest how to get context in absent of market profile or range bar chart and what about volume indicators you use on intraday chart how to manage them on daily chart.

    Thanks

    ReplyDelete
  4. Electronic Local25 January 2012 at 19:34

    smit, Lookk for where there is the most overlap in the bar chart, look at highrer highs, lower lows etc. "Where is the market going and what is happening". Most charting packages allow you to track upticks and downticks as a proxy for volume.

    ReplyDelete
  5. Anonymous26 January 2012 at 07:42

    jenrique42

    los cambios de tendencia en el euro, se ven perfectamente, con barras de rango 3, sobretodo si el rango de cambio es estrecho

    jenrique42

    changing trends in the euro, are clearly visible, with bars of rank 3, especially if the rate of change is narrow

    ReplyDelete

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