[Trade Signal] – EUR last chance shorts…

EURUSD is for the moment showing last chance shorts.

Currently our trade room is short on EUR and has been since 1.3760 as well as several add in points along the way. In the last week we recognised that price was in and “angled range” quite early on but trying to pick that high of the range has been quite difficult to consider a short trade entry to add in again.

I think we are at the last chance short level before needing to seriously reconsider direction. We have some health profits here so its just a case of how much and when we cash out.

Assuming price does indeed sell off I’ll be looking to add in below 1.3500

EUR-Nov-18-13a

In other news in an otherwise very quiet week we see Stock Index futures pushing ever higher making some new records along the way.

Dow Futures - My darling Dow continues to give like a kindly uncle as ES & NQ (SnP & NASDAQ)

YM-Nov-11-13e

Entry above – profits below

YM-Nov-11-13g

S&P Futures - similar view of entry and profit move

ES-Nov-11-13a

Entry above – Profits below

ES-Nov-11-13c

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[Trade Signal] – History repeats itself…. again!

Generally speaking there are some very interesting patterns developing on the charts as I’m typing some of those are starting to complete quite quickly – the patterns highlighted show that history does indeed repeat itself over and over again for a smart trader to exploit.

Price on GBPUSD (& EURUSD) is finally trending nicely. On the weekly charts (not posted) price is suggesting a move down towards the 1.5000. The chart below is showing what is looking like a very nice add in opportunity developing into what are already some very good movements.

We speculated on these rallies that we are seeing now could well be the highs for the week and if so providing some very obvious and easy pickings for entries into the bigger moves.

The entry patterns developing are almost exactly as we anticipated first thing this morning in the live training room.

The BIG question right now is will this history repeat itself OR will it mutate and develop into something else – like a bullish ABC correction?

This is life on the hard right edge.

GBP-Nov-04-13a

EURUSD is by far the run away winner from last week. Also looking to add in as Im typing this posting.

EUR-Nov-04-13a

GBPJPY has nothing amazing to report other than it is still in a range and I’m waiting for price to break out before considering any new trading opportunities.

GJ-Nov-04-13a

Dow futures also in a slight consolidation. Based off the larger pattern and a potential move lower towards 14,600 level (see previous analysis) this pattern can be used to try and position ahead of a potential new short trend. As I’m typing this shorts @ 15,590 are open and price is pushing quickly lower.

Similar to last week – quick scale outs can be met with exceptionally low risk (see arrows on chart for past entry considerations)

YM-Nov-04-13a

 

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[Trade Signal] – Dow is still a darling ahead of FOMC

Dow Futures (YM is still a darling ahead of FOMC statement later today.

YM-Oct-28-BIG

What has me shaking my head (in a good way) is the almost uniform predictable pattern that is developing and has been developing for several months. The Dow saw an amazing move up which provided an entry L14,800 if you have been following these entries.

We are now back to another nexus point where it is time to assess. The way I do my analysis I don’t think it really matters which way price goes as long as it does something and its going to happen here.

Price is going to do one 3 things.

  • Up and longs for a break out of the long-term channel. As I’m typing this price is 15,670 and making new highs.
  • Down and shorts for the continued development of the channel and maybe see another push down towards 15,000 level again
  • Bit of both – often we can see price wobble around these decision points trying to push higher or move lower with no real conviction before finally pushing in one direction.

It sounds simple and it should be. This is as complicated as I’m going to make it. Up and I’ll continue to look for longs. Down and I’ll start looking for shorts. And I’ll do my best to stay out of the wibble wobble should that occur.

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[Trade Signal] – Yawn… Another dull day in Forex

Generally speaking its turning out to be yet another dull start to the week. But then this has generally been the pace of things in Forex for most of this year.

[Forex] – Update

GBPUSD – GBPJPY – EURUSD – EURJPY all range bound in one form or another. Right now I’m sidelined waiting for things to develop and start looking a heck of a lot more interesting than they do right now.

On the higher time frames you can see similar ranging patterns develop highlighting that again for trending strategies we should be cautious and consider cash as the best option

EJ-Oct-28-13a

GJ-Oct-28-13a

GBP-Oct-28-13a

EUR-Oct-28-13a

[Futures] – Update

Dow stock index Futures continue to be the darling trade of the month for me. Originally starting longs at 14,800 I closed out at 15,500 on the button late on Friday, not wanting to quibble over the 50 points to the expected target level (which it has reached quite easily overnight)

Right now Im looking for longs again thinking we might see one final push up and maybe past 15,600 levels before anything else might be considered.

Short trades are now also a consideration as price is at the larger time frame channel highs. Generally its a great location for the next something to happen

YM-Oct-28-13a

 

[Trade Table]

No open or pending trades – will update if something new develops.

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[Trade Signal] – Update 18 Oct ’13

[Forex] – Update

GBPJPY & EURJPY appear to the the messiest looking charts for me today and might just be worth putting them to one side today and seeing what else new develop next week.

GBPUSD & EURUSD finally moving out of there consolidation zones and I can finally start looking for Longs.

Overall currency charts look the least impressive still with better and clearer opportunities developing on other markets and instruments

GBP-Oct-18-13a

EUR-Oct-18-13a

 

New trade entries

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[Futures] – Update

YM Dow Futures is still my darling trade at the moment. Price pushing up nicely from the consolidation lows identified yesterday and now up near the pattern highs. Decision time again – break out or turn down and continue to range. As Im writing this I see no reason to consider shorts just yet.

YM-Oct-18-13a

[Stock] – Update

Facebook & First Solar continue to push higher. Simply sit back time for now and see where price takes me.

FB-Oct-18-13a

FSLR-Oct-18-13a

 

[Trade Table]

TS-Sigs-18-Oct-13a

 

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