Ground Hog Day…Again!

Well folks there really is only so many ways we can say that price everywhere on the things Im looking at regularly is and are in a range.

Price attempts to move (the break out) and then snaps right back. This actually highlights another good reason why we wait for a break out to happen rather than jump on like all the text books tell us.

Is I keep saying in out Live Trading Sessions

“Im not looking for just movement – Im looking for trending movement”

It should be clear to anyone that we are seeing something a little strange and in most cases seeing extended sloppy conditions that are not of use for trending strategies.

Im placing the 3rd and most important trade again today and holding cash.

GBPUSD – WAITING

The messy chart continues BUT we do have a break out with an entry above the recent highs. ATR is a factor today and I”ll be looking to place an order tomorrow assuming its still valid.

GBP-Mar-03a

EURUSD – WAITING

Continued & Confirmed Consolidations Action – waiting for a break This whole area as I’ve mentioned several times should be avoided. Daily chart looks like an expanding triangle for reference.

 

EJ-Mar-03a

GBPJPY – WAITING

Nothing sustained after previous break out attempt. Back to waiting for a clear break out from the newly defined levels. Updating to a slight angled boundary with multiple levels to choose from. Very messy

 

GJ-Mar-03a

Dow Futures YM March14 – Waiting

After two previous break attempts one produced a break even trade and the other voided. We are now back to being inside a confirmed rising channel.

We might be able to do something with it should price get to the upper or lower boundary levels.

 

YM-Mar-03a

EURUSD – WAITING

Continued & Confirmed Consolidations Action – waiting for a break This whole area as I’ve mentioned several times should be avoided. Daily chart looks like an expanding triangle for reference.

 

EUR-Mar-03a

 

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[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] – Where Next For EURJPY?

The chart I think says it all for EURJPY. The 240 min chart is at an interesting level again where we have an each way trading opportunity. A break out move down is what I’m currently favouring on the charts based on how things look as I type this. A break out movement could see price move towards the 126.00 level.

Long have not been suggested yet for me to consider an upward movement – which if that does occur then 135.00 level seems doable.

 EJ-Nov-05-13a

 

The entry short so far was on the 2nd chance entry highlighted on the chart, having missed the slightly earlier entry.

EJ-Nov-05-13b

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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] – 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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