Well yes, stupidity is about right. Those stops are set for a five period ATR with an 8 period lookback, so to be away from it for several bars is very much like going through a Bollinger band. That is a condition that won't last. And that is what happened when we got to that 2042 resistance zone, the cloud caught up. For the record I think these chandelier stops are a superior type of ATR stop because the system "hangs" the stop off of the highest high or lowest low in the look back period.
small 3 push up, so the pullback might be 2 legged, now is 1st leg.
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MrMiyagi wrote:Intraday NYMO down 15 points to +31.31 but at about day's high here. Frikkin terrorists.
Not saying anything political, just observing that this could easily destabilize the current EU leadership and without Merkel's support Super Mario could be forced to cut back his money printing before he gets to the buying of corporate bonds.
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tell ya what, when we hit near that 205.50 level, with end of measured move, end of pbars, and in the heart of a bearish gartley target zone, im a gonna short for a bit.