A Goodbye

BarroMetrics Views: A Goodbye

Has it been ten years?  Almost, I first started publishing this blog on November 1, 2007. I’ll stop publishing on Tuesday, July 19, 2017.

That said, the blog articles will be available until December 10, 2017. This will give you time to download any articles you may want to keep.

Thank you all for stopping by. I have made some good friends here, Baz, Chris, Jason, Thomas and too many others to mention. All the best with your trading, every success.

Turning to today’s entry: I’ll finish the commentary on the GBPCAD trade. At the July 12 presentation, I started the analysis, but we couldn’t see the beginning of the trade because the BoC’s figures came out at 22:00 Singapore just as the presentation concluded.

Those of you who attended will know I was looking for the BoC not to raise rates. I mapped out a strategy for the expected ensuing rallying. I also mapped a strategy if it did. In the latter case, I concluded that:

  • given where the pair was trading ahead of the number; and
  • given that I expected the daily range to be between 190 – 300 pips, I was not prepared to sell the pair on the news.
  • Instead, I said I’d wait for the rally.

The BoC did raise rates. The GBPCAD then fell; we saw 315 pip range for the day. So, yesterday I was looking for a rally.

Figure 1 shows provide two important bits of information:

  1. Acceptance above the blue 120% (1.6789, I’ll round that to 1.6790) tells me that the current structure, the 5-day swing downtrend, is probably over; breach of the 5-d swing high at 1.6975 will confirm).
  2. The red lines show the 5-day resistance levels.

Figure 2 shows the 60-minute chart with resistance levels. Yesterday, the GBPCAD moved into the bottom of my preferred zone, and I took the trade at 1.6473. My initial stop (hard) is above 1.6616; my soft stop is above 1.6577.

Yesterday, the GBPCAD moved into the bottom of my preferred zone, and I took shorts at 1.6473. My initial hard stop is above 1.6616; my soft stop is above 1.6577.

(By ‘hard’ I mean ‘the stop order is resting in the market’; by ‘soft’, I mean I’ll be looking to exit should I see acceptance above 1.6577)

I believe there is a 50-50 chance will see a test of 1.6530 to 1.6565 today to establish a congestion high on the 60-min. The congestion low is at 1.6354.

I’ll publish an update at 20:00 tonight Singapore time.

FIGURE 1 GBPCAD Daily

FIGURE GBPCAD 60-min

22 thoughts on “A Goodbye”

  1. Ray, What has happened? Why goodbye? Thats a bit sad to see you go. What are your plans for the future.? cheers Baz

  2. Hi Ray,

    very sorry to hear. I always enjoyed your blog, especially since you are truly a renaissance man with a very wide view of the world. I’ve been reading your book and blog, but I feel I never really had a chance to get into your world. And so I was very excited when you announced your July 5/12 training course, because it gave me a way to engage with you more.

    Would you mind sharing your reasons for discontinuing your blog?

    Thanks,
    Stefan

  3. Hi Ray, I hope you are well and please let me be one of the many I’m sure to say thank you very much for all your years of dedication to the blog and your trader readers.
    Kindest regards
    Les Meehan

  4. Hi Ray,

    Sorry to hear of the blog closing and wanted to say how much I’ve enjoyed it over the years.

    You’ve helped me enormously over the years with your human performance insights and highest quality book and course recommendations.

    You are the one trading mentor I trust in the business so a unicorn that will be missed.

    I’m hoping to take your foundational course in 2018 if you run it again so hope to see you teach again soon.

    Thanks so much Ray, you have helped more people than you know.

    All the best for the future.

    Paul.

    1. Hi Paul

      Thank you for taking time out to drop me a line, and thank you for your kind comments.

      I’m also very happy to hear I was able to assist.

      Unfortunately, I won’t be running my courses any time soon. But, there are others who provide an excellent service. I’ve heard nothing but good things about Trade with Precision.

      All the best for your trading. Thanks for all your support.

  5. Hi Ray

    Sorry to hear that you are going to discontinue your blog. I enjoy reading your blog and have learnt a lot from your insights. I hope you are well, and all the best.

    Thank you,
    Erwin

    1. Hi Erwin

      Long time no hear! I hope all is well with you and your wife.

      Thanks for the kind thoughts.

      I am well, never better, health wise? Thanks.

  6. Dear Ray,
    Not a good piece of news to read in a Saturday morning. Sad to see you go.
    Thanks a million for all the materials and knowledge shared through the years.
    It has been useful and beneficial to me. All the best.
    Ronald

  7. Hi Ray,
    So pleased to see that you are looking forward to enjoying a new phase in your life Ray and that the surgeries have paid off.
    Your wisdom and life experience have no doubt led you to call time on the blog.
    On a slightly selfish note I will miss your posts. They are on my daily checklist. I do not use social media of any kind so I have a list of websites I check routinely for new posts.
    Ray posted:
    ‘That said, the blog articles will be available until December 10, 2017. This will give you time to download any articles you may want to keep’.
    Based on my own experience I suggest that your readers take full advantage of your archives whilst they are available. When I found that you had a blog a few years ago I spent many hours going back to day 1 of your blog. It took me weeks to get through everything but it was worth it.
    What you share is incredibly valuable. Constantly seeking the latest thinking and sharing your findings re ACT etc and not hanging on to past theories.
    I am sure many 1000s have benefited from your Blog as there are so many life enhancing aspects to what you share that go way beyond the balance in a trading account or trading results.
    Thank you for everything Ray and keep on taking it to the next level.

    1. Hi Chris

      Thank you.

      I’m happy I was able to contribute to your goals. I am sure you’ll have continued success.

      Take care and all the best

  8. Hi Ray,

    Just echoing the thanks conveyed in previous posts. Your ideas and insights have been a constant source of learning.

    Really sad the blog is ending, but also appreciate all good things must draw to an end. All the very best with your next chapter & thanks for having shared such fantastic knowledge during the last decade.

    Ryan

    1. Hi Ryan

      Thanks for taking time out to drop me a note. It means much to me. Although Google reports I had 2000-odd readers a day, I was never sure that the blog was actually read. The emails and comments show that it was, at least, by some. That means much to me because the blog’s objective, like my teaching endeavours, was to make a difference.

      So, I do greatly appreciate you dropping by and leaving a comment.

      Every success in your trading efforts.

  9. Hi Ray

    Just wanna leave on record my thanks and gratitude. You know how I feel about all you’ve done for me and the trading world already.

    Would you consider leaving the blog online? It’s such a wealth of knowledge and testament of your selfless sharing and it would be such a pity to just take it down. All those years of hard work and effort that has gone into it. But we respect your decision, obviously.

    Again, just want to say a huge THANKS. You’re the best!

    Blessings
    Joshua
    ps: I note with interest your endorsement of TWP! The founder lives not too far from me and a mutual friend had recently suggested introducing us.

    1. Hi Joshua

      Thank you. You are a good friend.

      The blog will be online until December 31, 2017 to give all a chance to download what they’d like to keep.

  10. Hi Ray,
    Its been sometime since we last met. Thank you for being part of my trading learning journey…I have my challenges that I need to sort out.

    Take care. All the best to you.

    1. Hi Monica

      It has been a long time. I note you have issues. Hopefully, something in this blog will be of help.

      Take care and all the best

      Ray

  11. Dear Ray,
    The first thing in the morning I do when I start the net is look at your blog. There is always that ‘wow a new post’ feeling that I will surely miss. Really sad to see you go. But the eternal optimist in me just continues to believe that you will have a change of heart and some time in future you will be back.

    Good luck and all the best,
    Regards,
    Manish

    1. Hi Manish

      Thank you for taking time out to post. I love the comment.

      Unfortunately. it’s very unlikely I’ll be returning to the blogging scene.

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