GIVEAWAY MYSTERY CHARTS
Yes, I suppose I gave away the June chart when I said it was a currency spread ( Figure 1). On the
other hand, it turned out there were a lot of currency traders! Picking a winner this time was
tough. There were no wrong entries and the quality of the trading was strong.
Given the straight-line trend of the Deutschemark/yen spread, it wasn't hard to come up with
straightforward trading and good results. I usually give big points to simple solutions, but this time
around I had to hand the award to a unique approach by Raymond Marten of Baie d'Urfe, Quebec
(Figure 2). The only demerits I gave him were his vagueness in exiting the trades. Let me add that the
very close second, was Malcom Biddle of Sydney, Australia, who was more conservative (trading for a
bank). Seeing an overextended move well defined on his indicators, he held off from the final runup and
projected a trendline that turned in a beautiful reversal signal. Unfortunately, his graphs cannot be
reproduced here—they're in non-repro blue and orange, which comes out printed as blank and black!
Instead, I offer a similarly detailed analysis by Bob Skarsten (of Wilton, NY) using everything from
Elliott wave to MACD histograms.