Browse Symbol Stacks: ALSI: Blanks of the trader
Blanks of the trader
Week 15 market preview
Great to dive into the markets after short Easter break, actually i decided to stay in the sidelines with market analysis for the whole week as i reached my milestone in terms of number of trades taken, was busy reviewing results of my current performance. Overall i am happy with the results, by reaching this milestone i improved my expectancy and identified some instruments where my system performing below the expected average. One of the markets that i will be stepping back from for some time is South African ALSI40 index. It was in heavy uptrend for pretty much whole last year that unfortunately caused far too big performance deviation from other traded instruments in my watch list.
In a meantime from positions that i held Gold (XAUUSD) dived south netting me about +40 pips of profit and earlier mentioned ALSI continued to go south as it stands now I'm +2500 pips i the money, we can clearly see that Shark pattern completion at 36450's on cash market 4 hour chart was the top from where sentiment has shifted to the downside, nice way to say goodbye to this market for now. Well done to traders who took advantage of Gartleys pattern at 93.36's area on USDJPY and had their stops low enough. This pair plummited north to 97 in a matter of days netting really good returns for initial risk in very short time.
As far as next week i can see only one valid setup in my watch list. French CAC40 is close to form final CD leg of Gartleys pattern. See the chart below
Have a good one traders!
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