Dynamite was invented by Alfred Nobel and was the first safely manageable explosive stronger than black powder. Nobel obtained patents for his invention in England on 7 May 1867, in Sweden on 19 October 1867. After its introduction, dynamite rapidly gained wide-scale use as a safe alternative to black powder and nitroglycerin. Nobel tightly controlled the patents, and unlicensed duplicating companies were quickly shut down.
Unbeknownst to his family, friends or colleagues, Alfred Nobel left most of his wealth in trust, in order to fund the awards that would become known as the Nobel Prizes and 10 December is now known as Alfred Nobel Day in Sweden.
[Wikipedia]
A strong finish to a relentless week will probably leave most traders stunned.
I certainly had caution signals flashing since the market moved outside of its bollinger bands at 2230 on wednesday (unusual and unstable behaviour).
But price is the leading indicator and we should allow price to determine our position direction whilst adjusting position size according to the perceived risk.
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational & entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.