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The Long Straw PDF Print E-mail
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Written by Jay Norris   
Monday, 22 September 2008

Image One of my favourite movie lines in years came from Daniel Day Lewis in the movie "There Will Be Blood":

"Imagine..." his character said: "that I have a very long straw now. And I take my straw and I put it in your milk shake. And I drink your milk shake".

In my own humble opinion the way to drink not only our own milk shake, but the other milkshakes around the room is by knowing how to identify shifts in the short-term trend.

Below I've posted the 60 minute chart where I've identified the two candles today when/where we saw a shift in the short-term trend for that time frame. At the close of the candle marked in blue the short-term trend shifted higher, and on the close of the candle marked in pink the trend shifted lower. I've also marked the candles on the 15 minute chart that correspond with the close of those reversal candles on the higher time frame.

We can also see w/ or w/out indicators that the secondary trend on the 60-minute chart was lower all session, as was the primary or longer-term trend.

 

 

 

 

 

 

 

 

 

 

Nothing complicated here. 

Contact Info:

Jay Norris
Local: 312-896-3986
Toll Free: 800-971-2154
Website: www.BrewerFX.com
Educational Website: www.brewerfx.com/jnorrisedu/


DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee by B.I.G. Forex, LLC and Brewer Investment Group, LLC or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions or technology issues may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as “spread” or “straddle” trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.

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