This has been flat for several days, but hits all the indicators. The hourly looks uninspiring. It's not quite a hit there, but it's been so flat that I'm ignoring the hourly. I'm going to log this one now.
I'm using 23.50 for the price, and going back to yesterday when the UO turned up.
Copper(HG), the commodity has been trapped (Manipulated?) in a 1.5 cent channel since 08-24-16. Look on a 15 minute chart. I am just pointing this out as it should have an affect on the movement of price.
ReplyDeleteI wanted to add that I know you are testing the EVO System as a pure trading system. I posted the comment for anyone looking to actually trade JJC. Sorry in advance if not in line with your goals.
DeleteAre you saying the move will be muted by the manipulation?
DeleteI welcome this comment to the blog. If copper is manipulated, surely it has been for more than the last week. Which means it's plenty volatile to play.
DeleteAgreed. All I am saying is that there may be unnatural pressure to the downside in the commodity itself. Successful traders need to use all information available to them to make good trading decisions. If I was looking at 2 EVO Buy hits, and I noticed that 1 may have some price capping taking place, I would probably trade the one without. I know that Mannarino looks at other info, besides just the EVO triggers, to make trading choices. His mention in one video of the KUMO for instance. It appears that the IC does not have a role in the calculations for triggers. I deleted it out of the charts I am using and get the same results. Why is it in his system? Is he looking at it but not talking about it's role? I know what the KUMO means in terms of support/resistance and price action and it can be helpful in making good trades.
ReplyDelete