Ray Barros
>Here are the four charts I promised for Monday nights. I delayed this week because I wanted to see the reaction to the FOMC decision.
FIGURE 1 S&P
FIGURE 2 Strait Times
FIGURE 3 Australian All Ords
FIGURE 4 Sensex
Refer this blog post to a friend or colleague…
Ray
Before FOMC and after , my comments refer at:
http://awanginvest.com/?p=621#comment-467
hi Ray, yes i think the All Ords is a data error. This happens to me on the SPI sometimes when they re boot the server in Singapore.Its quite a heart starter when i first wake up!!!! cheers baz
Thanks Baz. What is the correct high price. I’ll write to CSI and advise if you give me the price.
6th aug 08 ohlc 4905.3,5028.3,4905.3,5020.2,hope this helps cheers
Thanks Baz
Hi Ray,
This may be a silly question. Apologies if it is.
On figure 1 (S&P), why do you use the retracement levels 55.3% and 44.7%. They’re not retracement levels that I recognize.
Thanks.
Hi Oztrader
No apologies necessary. In fact, it’s a reasonable question.
The 55.3% to 44.7% are bands for the 50%.
My current research shows that while some instruments ‘like the 50%’ e.g. Gold, other work better with a band.
I don’t trade the All Ords so I used the band rather than the 50%.
Hope this helps. Hope the new business and your trading are doing well.
Thanks Ray.
That’s really interesting.So if you use a band rather than 50% for some instruments, do you always use the same figures 55.3% and 44.7%?
Hi Loraine
This is a work in progress. Right now the bands are 55.3 to 44.7 for all instruments.
I’ll let you know if this changes.
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