Continued... Alsi Sept Contract

[FEK]

Looks like it wants to head lower than 37950.....

[#2]

I look forward to the day when we can trade the fundamentals again.

[Rams]

Will get there and beyond if we stay above 38100.....

[FEK]

Very resilient market, keeps on heading north.....

[#5]

Resilient is the word. My hour chart has crossed down, US futures down, UK down, Gold dithering. But we stay in positive territory and going up.

[Rams]

Ignore all the noise, trade the chart....we going up,then long....

[Rams]

But noticed that when markets are not in sync, ends up being a pancake day...when we finally catch up with world markets, usually too late for intraday traders....so now just pancakes, like yesterday, and the week before and the week before the week before ....we need some really bad news , then a resolution to the bad news....right now, good news is no news

[leminus2]

According to charts there should be a pullback?

[SimonPB]

an according to price ??

[fulcrum]

I've never really understood what "trade the price" means. Can someone explain it to me like I'm 5?

[Rams]

when the chart tells you trend is up, then buy when the price is more than the last traded price. If charts tell you trend is down, then sell when price is lower than last traded price....

[#12]

Until recently I was of the opinion that you have to do your research (fundamentals), take into account the technical aspects of the charts (in particular hour chart - e.g.overbought/oversold). I realise our market is like a juggernaut, but this price action has me baffled.

[FEK]

Baffles me as well, we are due for a correction might be tomorrow....

[fulcrum]

ah cool thanks, nicely put :-). Seems like a good description of buying/selling the dips/pullbacks.

[SimonPB]

the only truth in the market is the price .. everything else is theory and meaningless, so trade the price and don't worry about anything else .. i it going up buy, if it going down, sell .. forget where one thinks it should be going

[fulcrum]

Thanks Simon

[FEK]

When is trend change ?

[Rams]

38250...confirmed above 38300 on 15 minute chart.

[Rams]

my stop now at 38300 and will move it into profit as the market moves...it would be lazier to just leave the stop at breakeven and not move it all...then you would need to go back to the computer only when the stop gets hit or to close position at end of day...then it may not be a "job"...

[FEK]

Resilient market once again, is trend change below 38300 ?