Saturday, March 14, 2009

Triangles have SAVED me (he says dramatically!)

Below is a chart of the Greenback with the triangles I always talk about. There's been so much volatility in the specific crosses in the last month that the dailys have been a little confused, sometimes issuing opposing directional triangles three times in a week! This is not normally what happens, and the triangles cover all the markets, obviously including equities, which are not subject to the whipsaws we've seen in Forex.

The spot currency, however, has been 'spot' on. Here is one example:



This DX daily triangle was issued a couple of days before it's big drop. I used the channel we have been discussing in previous posts as my confirmation and traded accordingly. The triangles for the other spots have been been very good too. Even the Ozzie was correct, which because of its yield, has been rising (and is a risk sentiment currency known to move w/the equities.)

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