I was looking to trade USD/JPY this morning. I am mostly a trend trader;“The Trend is Your Friend”. I see a few APEX patterns to trade here but I didn’t take them because the market was at a -1.5 deviation. Then the market dropped to -2 deviation. It then formed another APEX and also TC appeared( I’ve been experimenting with having the Trend Catcher and APEX on same chart). I didn’t take this trade because it was at the -2 deviation. The mkt eventually hit -3 deviation. At the -3 deviation and the MVP reversal forming I went long and bought some binaries that will expire at 3 pm EST.I feel like I missed some opportunities to short this mkt on the way down because I was paralyzed by the deviation levels.
China fell so hard last night that 40% of their market was closed down.
Grexit is on the horizon
NYSE locked up this morning and halted stock trading directly on NYSE (could trade though other clearing branches)
As long as your risk in check you should not be paralyzed.
During times like this deviations will be exceeded. Expect oscillation at each deviation. And look for volume to exceed expectations to give you a clue that the move is continuating on past the normal implied deviation levels. There is ar esaon we chart 1.5 and 2 and 3 on there. it so they can still in fact be traded even if it is only about 30% of the time.
