For the fans of Simons lazy trade

[#1]

I think the topi is dipping below 15 day EMA? So his system is lining up for a setup.

[richardw]

I'd like some laziness. My own terror-inducing system is fine and all, but going with the flow sounds good too! Good spotting.

[TOPIX]

Nope. EMA15 > EMA30 > EMA60. This means you only trade long and only when price crosses EMA15 from below. So if you are not long already, you wait - a cross from above is not a signal now.

[#4]

I set it was a setup - close is below EMA 15. So next week, the entry will be valid upon closing above EMA15 again with confirmation

[Hedgehog]

Simon's system is a good guideline, but I would have a look at resistance levels, RSI and patterns. Right now I would like to see the resistance level around 210 broken to confirm a break upwards

[#6]

Each to their own, for every proponent of Simon's system, there has to be someone with a contrary view - otherwise there wouln't be any sellers to make the system work

[saash]

Is a 4.30 red a sell?

[saash]

Doesn't a sell trigger only on the cross-over 15 and 30? I don't get it, what set-up. Simons still long ... lol, that sounds, well, funny :)

[doomsdayza]

Hi Saash, no because the overall trend is up as the 30 > 60.

[saash]

This move is just a gap close for the 29th's gap up.

[#11]

OOOF, I don't think this is just a small move, some big moves posted on the foreign exchanges, ftse down 2%, hang seng down, dow futures down, all by significant amounts. I have learn't a long time ago not to bet against big moves like that

[saash]

There's lots of support on those markets, and the trends are still up.

[richardw]

Maybe. I think there have been pretty flat markets overseas for the last couple weeks, and that can be read in many ways.