Don't Panic Mr Mainwaring

Don't Panic Mr Mainwaring (pronounced "Mannering") was the catch phrase of an old much loved British TV show. Every time there was a crisis, this wonderful catch phrase was uttered.

Today we have a mess in both Europe and the U.S. Euroland is under attack due to the differences in the economies of the countries that make it up eg Greece versus Germany, while in the U.S. we see them trying to bail out the boat by printing money and risking a perception of default by not raising the debt ceiling.

I'm not seeing real panic, yet, and I don't know why. Is it because like the passengers in the Titanic we can't really do anything about our sinking ship and can only dance as the orchestra plays the music?

Some great trades become more visible as more noise is taken out of the charts. My recent post about using Renko charts to do this is one way, although the range bars provide better high/low info as they have wicks.


The Euro chart below shows how sweet it can be.