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Exactly - the main reason you dont trade 15 minutes either side of the U S open is the amount of traders that trade from the golf course, to be humurous.
you have traders calling their broker and telling them to buy/sell the open which causes in some cases violent price action as those orders are being filled
Not only that but we can clearly see we were within a triangle formation. You can draw a falling trend line on the high of the previous peaks so again it is like going long into resistance. The positive aspect is that you were able to identify the perfect entry for a short, just kidding ;-)
On another note.... this thread looks like it will be one of the good ones. But like all good threads, it will develop a lot of the dreaded "thread bloat." Particularly with us posting about general pa during the day. It would be cool if a few of us that are learning to trade this chatted on skype throughout the day, or posted general comments in another thread so this one didn't get so bloated.
I am. Although it is close to that round number. See chart
masood, a double bottom will always manifest with a LH as how can you get a double bottom without it. But the divergence is present so it is a valid setup.
