ITS OCTOBER........MARKET LOOKS LIKE ITS GETTING TOPPY
I just entered a LONG Position @ 1.2947. My TARGET is at 1.3517. We'll see how this plays out. It will take several weeks for this to show me if I'm in the right direction.
This will be a trade I anticipate will take a few weeks to play out.
Not looking for a Home Run. Just looking for 60-70 bps. We'll see what happens. ENTRY on the Long was @1.2914...STOP is @ 1.2875.
This is more of a wide Bearish Pennant. Not as Narrow as you might prefer to see, however, the set-up is there. We'll see what happens.
The time frame is on a Monthly Chart.....so this will take time to play out. However the play is very obvious, We'll see what happens.
Pretty obvious whats shaping with Gold. The levels below are realistic trendlines that are strong levels.
Short EUR/USD @1.3532. 1st and 2nd Target are the blue lines below.
IF THE EURO CAN BREAK ABOVE 139.00.....AND HOLD ITS MOMENTUM, LOOK FOR A HIGHER/STRONGER EURO.
CHECK OUT MY TRADE...... RISK vs. REWARD IS JUST UNDER 3:1 ******** I JUST STOPPED MYSELF OUT OF THIS POSTION AND AM GOING SHORT @ 102.17........6:00pm (PST)**************************************************************
I'M SHORT THE GBP/USD...... CHECK OUT THE LEVELS ON THE CHART WHERE I'M LOOKING TO EXIT. GOOD TRADING, HUNTER
JUST SOME THINGS TO WATCH FOR TOMORROW 1/31/2014: - TODAY THE SPX OPENED BELOW THE CURRENT SUPPORT TRENDLINE AND CLOSED ABOVE IT. THAT MEANS THAT FOR TOMORROW WE MIGHT SEE SOME STRENGTH FINISH OUT THE MONTH OF JANUARY. - KEEP AN EYE ON THE GAP THAT OCCURED LAST WEEK......WE MIGHT SEE TRADERS TRY TO FILL THAT GAP SOON. WHO KNOWS WE MIGHT JUST CONTINUE...
IF THE ES WILL BE TRADING LOWER....THE GAPS THAT WE HAVE HERE ARE VERY, VERY IMPORTANT AREAS TO WATCH. *****IF YOU'RE GOING SHORT, THE GAPS ARE GREAT AREAS TO TAKE PROFITS AROUND GOOD TRADING!
I'VE INCLUDED SOME MAJOR LEVELS THAT ARE TO WATCH FOR. WHATEVER YOU DO........DON'T PANIC. ****FRIDAYS CASH SPX OPENED GAP DOWN.....LETS SEE IF IT WILL TRY TO FILL THAT GAP NEXT WEEK
THE EURO LOOKS TO BE HEADED TOWARDS INTERESTING TERRITORY ****LOOKING FOR BREAKOUT ABOVE THE UPPER TRENDLINE WHICH DOES HAVE A LOT OF AUTHORITY. NOT LONG UNLESS IT BREAKS AND SUSTAINS ABOVE. ****EITHER WAY YOU SLICE IT, THE EURO LOOKS STRONG CONSIDERING THE TRENDLINE FROM 2001 LOWS
SILVER HAS JUST LAGGED AROUND 24.50 and 19.30. I'M READY TO GO SHORT UNLESS I SEE A REASON NOT TO. ****LOOK FOR BREAKDOWN BELOW 19.30
THE INFAMOUS TREND LINE THAT CRUDE HAS SUSTAINED SUPPORT ON STILL LOOKS VALID. ****WATCH FOR BREAKDOWNS BELOW THE TRENDLINE IF PRICES BREAK BELOW.