Posts by "daveo"

Callum, yer on the right track with tracking SPX and ASX. Santa rally happens almost every year yet we have traders fading the audusd and hanging onto the defunct H&S when they should have been long or stood aside.

Chloe, for me the break below left arm pit at 9650 messed the pattern. At that point it should have carried on down to make H&S target or at least make 9500. It reversed at 9536 leaving a very lopsided pattern to continue calling it an H&S still in progress and the fact that the move didnt even make 100% symmetry from the 22nd Nov high was potentially bullish for the reversal back up. Since then we get bogged down in low holiday volume.

As far as Ashraf commentary, I got the impression he is open minded awaiting a clear breach of potential double left shoulder being reproduced for right shoulder or else not exceeding a ClOSE above the parity left shoulder level. In other words if price fails right here and reverses back down he will say it completed a double right shoulder (or triple right shoulder). When things get this messy I forget about H&S pattern and rely on other signals :-)

All trading is likely to be scalpy until about the 10th Jan due to lower volume conditions. Now I may have spooked the markets and we get a wonderful crash :-)

Chloe,I am very out of touch with Hotels up there, I been a country bumkin since retiring. I think ask Ashraf, he will know them. If I come myself I shall try to book the seminar venue for one night if they still have availability.

Ashraf, oops I see I was reading Ron Insana foreward. That makes a lot more sense, I couldn't see you as an american, more from an english public school education. Shame I know more about Ron Insana from your book than about you. Mind you I might have missed the real Ashraf but I am usually pretty good at guessing. One of the things I want to do over the holiday period is to finish the book beyond a quick skim. (and yes I caught pg 251 that tells me almost nothing about youuuu, the underlying structure of AL) Next edition should include !

Crystal Bowl, whether Ashraf trades himself or not is not terribly relevant because his calls for broad direction are already well proven valuable and it is not in his CMC remit to get involved in specific trade management. I can't imagine why he or anyone else should show you their personal accounts. Damned if I would, tantamount to an invitation for trouble. His workshop is on the back of a proven track record.