PLS chart, page-14474

It occurs to me that there might be an important difference in the way we calc the baskets. I convert each share's movement to a percentage rounded to 1 decimal place eg 1.23% becomes 1.2% and 1.25% becomes 1.2% and 1.26% becomes 1.3%. (note the rounding down of .05) AND then I average the percentages across the basket, not the price delta but the percent delta. I then apply that average to the closing price of each share in my Oz target set.

I don't use the basket in isolation, but map it against the very short range trend and medium range trend channels for the target share. Where they agree - great - but where they disagree I make an educated guess as to which is likely to dominate, or use the edges to decide which channel it is in. If it, for example, falls below the US min but is above the Oz min, then I revise my settings intra-day so that the Oz channel becomes the target. I also pay attention to the US candle pattern of the previous day - If they are screaming down, then the Oz position is more likely to fail in the second half of the day, even if it has leapt high during the morning.

Lastly I watch that 1 minute MACD carefully. When fast (12 periods) and slow (26 periods) lines cross or touch and keep touching through a minute or two it is often time to trade, but you can usually sell at the ask price or buy at the bid price if they haven't yet clearly crossed. If it is wave 1 to 2 of the intraday cycle, you have to be careful because that will often cross the MACD for a few minutes on the way down, but in fact you want to be buying then, or holding for wave 3. Usually the wave 4 dip is not enough to cross the MACD, but end of wave 5 is. Trading out on wave 3 is in fact the safer trade, but you miss a bit of profit that way. A double top wave 3 = wave 5 is almost always a bad sign.