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TOPIC: FCL
#1758
sbjorkel (User)
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FCL 4 Years, 1 Month ago Karma: 0  
I originally had a note on this one that it wasn't a strong enough trend, however on walking away and coming back and looking at it, I believe it is.

However, something I read on a previous posting that I had not heard before, was considering the ROM in the price action.

I would say that the ROM on this chart is generally quite large and is quite often greater than the 5% trading band.

I believe this would negate this as a valid FRL with lower probabilities of success.

How did I go?

Sue Bj.
 
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#1769
Peter Varcoe (Admin)
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Re:FCL 4 Years ago Karma: 0  
HI Sue,

I am wary when the ROM of the weekly bars exceeds the width of the trading bands, in this case the ROM is around 2.5 times the trading band width.

The volume is also quite high, so the higher volatility , I believe, increases the danger of the position failing as the price can whip through such a large range as to trigger the entry and exit in the same week.

I have not done enough testing to start sprouting percentages, but I am wary of the increased volatility, and this is only my opinion.

Feel free to take a closer look at this situation and see if you can come up with any stats on it.

Peter
 
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#1772
Deon (User)
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Re:FCL 4 Years ago Karma: 0  
what line are you trying to draw??
 
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#1776
sbjorkel (User)
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Re:FCL 4 Years ago Karma: 0  
a FRL.

Sue Bj
 
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#1778
Deon (User)
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Re:FCL 4 Years ago Karma: 0  
just asking just in case you were drawing a line joining the highs of 18/1/08 and 7/3/08 because the second one is not a mhtp
 
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#1783
Peter Varcoe (Admin)
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Re:FCL 4 Years ago Karma: 0  
HI Sue,

Where are you looking to draw the FRL?

Peter
 
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