While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
This cross reached our objective Friday of 150.34 and reversed.
It presently shows a potential double top on a qtrly chart.
By looking at the last months ORH pattern we know a retest to check the pattern breakout of 145.60 is possible
This is one to keep your eye on tomorrow night going into Wednesday.
Cash currency traders….tomorrow we’ll be placing an order to buy the cross @ 145.80 with a fairly tight stop.
The idea is to get filled on an overrun after the RBA minutes Tuesday night.
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