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No trade today... Zig Zag Market

5 min Emini Nasdaq 100

Hi,
How is it going? Market is in a zig zag fashion again today... What I dislike most is the downward sloping moving averages.. On hindsight you might think it is possible to do a range trade --> by tradin between the channels..

But ask yourself what is the risk/reward and you will immediately realize that this is not feasible... Although there appears to be several potential signals from stochastics, this really has to be interpreted on a wholistic basis.. Look at the situation on a whole, dont just look at one technical indicator.. and the answer will be clear.

Posted by Michael Taylor on August 4, 2008 5:40 PM |

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