My good friend Viren used to say always- " No target is too big for a trend day "
The day is marked always by a slower open which gives a very small IB , but the momentum picks up through the day climaxing at the very end !
For those of you who are wondering how our Orderflow did on a day like today- well it picked up the short moves on Wednesday itself and remained Red as Buyers were simply out-smarted in price today.
The moves of the market were picked at 5038 on Monday, we converted on Wednesday and Order flow kept us loyal to the trend right through the day 's close today.
Same example in the BankNifty also today.
In sum, if you want to kick the habit of losing money in the markets- just trade the Order flow.
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3 comments:
Two great posts by you Shai. Today's move was absolutely amazing. Obviously the market has imitated Fed by moving money away from market to perhaps long term funds :). The Fed has achieved its objective. Dollar is at a high and remains the undisputed king amongst currencies of the world :)
Regards
Vinod
Thanks Vinod.
What a journey for the Dollar!
From being everybody's favorite short, It's become the poster boy for a new bull market.
I think we have a 3 year cycle low in place in May for the dollar, which means that Equities will not get anywhere near the January highs for a minimum of 2 years.
Shai,
Your post in the morning was spot ON!.
The market waited at 5030 for a full hour for the buyers, and when they didn't show there was only one place to go.
You and Ben made me a lot of money today.
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