A Stagnant week

Not unsurprisingly we are on Fridays and still not seeing a great deal of movement. Price pausing after some interesting movements from mid Jan to early Feb.

Overall the strategy is doing is job and keeping us on the sidelines when price is not moving like now. This this time to be patient especially when we see extended periods of pausing as we see right now

GBPJPY –  a now confirmed consolidation

GJ-Feb-21a

EURJPY -  a now confirmed consolidation – In this case its slightly angled which we might call a channel. Its still confined and not big enough to change tac and consider trading the range

EJ-Feb-21a

EURUSD -  The whole marked area is a nasty mess – Im being very cautious about this chart and location.

EUR-Feb-21a

GBPUSD -  a now confirmed consolidation – after having seen a lovely move upwards. Hopefully the next push can be equally as impressive.

GBP-Feb-21a

YM Futures (Mar) -  Starting the flip flop moves.. and could well highlight a consolidation. Nothing confirmed yet and price moving higher for a new long entry.

YM-Feb-21a

 

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[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

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[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

 

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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] – 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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