A couple of great trade setups I mentioned yesterday how I had discussed early in the week with others about the index combinded with the currency showing a get end of quarter return for offshore investors, and the possibility of some being taken off the table going into the 4th quarter.
(my refrence points that I have talked about ar a litte different from the 3 day closing price day open bar ) but it dosent matter ,as those still give the same general out look.
With the market not realy going anywhere at the highs the relationship between 1. and 3 it not indicating any vertical growth , and the fact that 2 is lower then gives an indication that a pull back is likely, add the fundamental senario and bingo .
The second trade steup is a classic I reckon .marked with red arrows.
Yesterdays bars show ( highlighted in red ) resonable volume all day. I shows a force created in the market, I may have looked oversold , there may have been commentary about it's oversold nature , or the fact that the offshore markets had not been instep ect ect . but the fact is undeniable it is there !!!, and you can trade off what is there .Tapping into that force gives the best results and last night a bounce gave an excellent short entry, more often than not you get a second go getting into moves and thats just another reason to relax when trading.
Now it won't be long before i post another reference point and if it happens to be lower than the 4612 level then it will be confirmed that we have a brerish trend change in the medium term.
good luck and good trading to you .
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