Chaucer, Dante, and Shakespeare all used foreshadowing in their writing. One of Shakespeare’s most famous quotes is the title of this post “Beware the ides of March,” which appears in Julius Caesar.
It got me thinking with today being the Ides of March, that strong counter-trend moves are a bit of a foreshadowing in the trading world. Very frequently, the counter-trend moves provide great entries once they reverse.
(click for larger and clearer image)
Take a look at the large green candle in the Dollar Index chart. Once the high of that day is tested and fails, there are several places that a trader could have faded that counter-trend move. Can you name at least one of them? I’ve written about this rule before on MartinKronicle.
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