ramzam replies to: Trading with range bars ichimoku cloud & awesome oscillator

Everything is a guess because we don’t know the future, but a tendency I see in strong trends is that if you get 3 opposing bars in a row against the trend (for example, 3 consecutive red bars in an uptrend), may even be 4, but with much smaller candle bodies, without closing to the other side of the 20 ema, that’s a warning to me to look at a bounce from that to be the first phase of either an opposite trend or sideways. I’m more hopeful this is less likely to occur (that is, the new trend will continue) if this is a pullback from first price surge of a new trend. Main point is this: strong trends should have very minor retraces.

RP, I checked your broker and couldn’t find that it has access to the Hong Kong Futures Exchange. I have Interactive Brokers but AMP Futures is another alternative which trades that market. OMG, the HSI (Hang Seng Index) and HHI (Hang Seng China Enterprise Index) futures are awesome trenders. If you didn’t feel like trading some mornings, you could trade either of these the night before. You can trade their morning session at 6:15 PM to 9:00 PM your time and/or 10:00 PM to 12 AM for part of their afternoon session. Hong Kong Dollars are pegged to the USD so no currency risk when the base trading currency is USD.

[Another one I found trending well on the Singapore Exchange is the NIFTY futures contract (futures off of India’s NIFTY index). It trades in USD. 9:45 PM to 12 AM would catch their opening morning trading hours your time. Two other futures contracts on the SGX that trend well are the Xinhua China A50 (symbol CN) and the MSCI Taiwan Index (symbol TW), both trade in USD.]

Leave a Reply

Your email address will not be published. Required fields are marked *