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

 

This page is updated periodically through the day. Please check back regularly

Trade-Like-a-pro

Still nothing too exciting

But things are starting to develop nicely as new trades start to develop.

 

Todays Gift can be found by clicking here.

Please download the gift and keep this service free.

EURJPY – Long Pending

Im pending a long entry at 140.90
The void level for this entry is price movement through 140.20
by time you read this, it may have already voided
 

GBPJPY – Short Developing

Two of the three conditions have been met to enter.
Current I’m waiting for a push lower than the 1 point and then a pullback. Entry will be below the 2 point as marked off on the chart

EURUSD – Long Pending

Im pending a long entry at 1.3780
EU finally moving out of its longer term consolidation pattern

GBPUSD – Short Pending

Im pending a long entry at 1.6650
Open longs need to also be managed to the new short trade entry level.
Longs were opened at 1.6440 – Locking in +110

Dow Futures YM March14  - Short Developing

Dow is currently also meeting 2 of 3 final conditions.

Current I’m waiting for a push lower than the 1 point and then a pullback. Entry will be below the 2 point as marked off on the chart

 

 

Todays Gift can be found by clicking here.

Please download the gift and keep this service free.
 

Trade Management
I split my trades into 3 units

  • Unit 1 – Open – closed on a new opposing signal.
  • Unit 2 – Closed at +40
  • Unit 3 – Closed at +100
  • Stop loss is initially -40.
  • When target 1 is met for +40 the remaining two units stop loss is moved to -20. This is a managed break even trade.
  • When Target 2 is met for +100 the remaining units stop loss is moves to entry level. This is now a profitable trade.
  • The last unit is closed when a new opposing signal is confirmed

 

 

 

Todays Gift can be found by clicking here.

Please download the gift and keep this service free.

[Trade Signal] – Dow continues to produce…

Trade of the month so far (and with 2 days left its a certain) has by a long mile got to be YM futures with a  close second as CL futures

After sitting on the side lines dipping toes in the financial waters waiting for some life and seeing only a little push here and there but nothing really to get excited about.

Dow futures finally bring home the bacon on a recent short trade 420 points close profits on targets with 215 & 70 points on remain two lots now locked in with a new long signal just recently been generated.

YM-Jan-29-14a

This page is updated periodically through the day. Please check back regularly

Trade-Like-a-pro

[social-locker locker_id="0ce91969550075e84" theme="orange" message="Would love it if you share it" facebook="true" likeurl="CURRENT" google="true" googleurl="CURRENT" tweet="true" tweettext="" tweeturl="CURRENT" follow="true" linkedin="true" linkedinurl="CURRENT"][/social-locker]

[Trade Signal] – Well worth waiting for…

Dare I say finally again? I think this time I can at least for the moment.

At last we are seeing some very interesting movements this week past what has been nothing more that single day movements and oscillations in price movements.

The strategy we use has kept is mainly on the side lines for most of this month so far. But when price moves we know we are going to be on it. A couple of false starts on various things but YM & CL Futures are providing some awesome movements and the trends are well and truly on their way.

YM Futures – Before during and still open shots

YM-Jan-23-14a

YM-Jan-23-14c

YM-Jan-24-14a

YM-Jan-24-14b

 

CL Futures – Before during and still open shots

CL-Jan-20-14a 

CL-Jan-22-14a

CL-Jan-22-14b

CL-Jan-23-14a

CL-Jan-23-14b

 

This page is updated periodically through the day. Please check back regularly

Trade-Like-a-pro

[social-locker locker_id="c3df74f162bc42e62" theme="orange" message="Would Love it if you shared it" facebook="true" likeurl="CURRENT" google="true" googleurl="CURRENT" tweet="true" tweettext="" tweeturl="CURRENT" follow="true" linkedin="true" linkedinurl="CURRENT"][/social-locker]

[Trade Article] – Hold Cash

Tis the season to be holding…
KakakakakarCashCashCash

‘Nuf said

Sadly or fortunately depending on your perspective now is really not the time to be looking for any serious positions. My system is effectively flatlined and in wait mode since begging of the week and most of last week.

Looking at the time of your its most likely not unsurprising that this is the case.

Although interesting observations about this time of year is that we normally do see a reasonable push somewhere in the currency land of thing to trade. Also interesting is that its seems a biannual movement and last year (Dec ’12) we saw some phenomenal movements moving right through December and well into the new year.

This year we have seen some great movements again on the Yen rates but just not in December. As I’m typing this price is just bobbing back and forth with no real conviction to moving clearly in one direction or the other. Most other markets I’m looking at are acting in a similar way and after some great runs on price in Oct & Nov it comes back to NOT being too surprising that Dec is for the moment in pause mode.

Best advice right now… Hold Cash – Cash is King… Not THE King, that was Elvis… but King it is and its best to hold it

HoldCash

Supplemental to all this – and well done if you scrolled down – is that I need to remind you that holding cash is the 3rd and forgotten trade and is one of the most important trade decisions you can make.

Right now and excluding the time of year factor my strategy says don’t do anything new. This decision for many new and aspiring traders is almost alien – but keep in mind what the 95% do. That is to ignore the wait and hold cash decision.

 

This page is updated periodically through the day. Please check back regularly

Trade-Like-a-pro

[social-locker locker_id="13b8eb4cee8747541" theme="orange" message="Would Love it if you Share it" facebook="true" likeurl="CURRENT" google="true" googleurl="CURRENT" tweet="true" tweettext="" tweeturl="CURRENT" follow="true" linkedin="true" linkedinurl="CURRENT"][/social-locker]