FED day upon us
Posted by Cire2222 on Jun 24, 2008
FED DAY
Well tomorrow is FED day. I have said it before and I’ll say it again, the best way to play FED day is described in the image below
KEY PIVOT PLAYS
As for the key pivot play in the Euro I mentioned last night there was NOT a trigger for entry. Gold did not trigger either and the S&P set up I mentioned might occur didn’t take place, It would of required a positive close. The good news is, there are no open Key pivot plays going into FED day, you can rest easy. I hope a set up comes soon, I am anxious to play one again
Key Pivot play’s
Posted by Cire2222 on Jun 23, 2008
A couple of you have been asking me for the next key pivot play. I know there has not been one for a couple weeks but we must be patient and not force plays. Gold was so close to a key pivot set up today but fell to fast in one day for a low risk Key pivot play. Good news is, We may have a set up in the S&P soon depending on how the market trades tomorrow.
There is a Key pivot entry set up in the EUR/USD forex pair, for the entry see the chart on my last blog post below, it is a break of todays lows (1.5468) this must happen Tuesday for the trigger to be valid. I will not be playing it in typical Key pivot play fashion as I am already short based on some other set ups I have posted in the blog about. 1.5220 is a solid target on this play, 1.5120 for a more aggressive trader. I will not be tracking the Euro play in the Track record section.
Dollar strength
Posted by Cire2222 on Jun 23, 2008
Dollar Strength
I have been posting multiple charts on shorting the Euro, I have been looking for a reverse ‘W’ formation to be confirmed and we almost has it today but the close just was not low enough. I am still bearish on the Euro and can’t wait to see what happens the rest of this week with the FOMC so soon. Gold also took a big hit today as the dollar gained strength, if the dollar can stay strong I expect much downside in both the Euro and Gold. Below you can see a couple charts on Euro and Gold.
Reverse ‘W’ on Euro
Posted by Cire2222 on Jun 19, 2008
Reverse ‘W’ on Euro?
A couple days ago we completed we we call the ‘W’ formation breakout on the USD/JPY pair. you can see the final chart and post on that here http://tradersbase.com/tb-trade-review/w-formation-with-fibs/index.html Now I see a possible reverse ‘W’ formation in the EUR/USD pair so keep an eye out on this pair. I think the swing low support will be broker if we go test it again.
Down with the Euro?
Posted by Cire2222 on Jun 16, 2008
DOWN WITH THE EURO?
I’m looking for another down move in the EURO and i think we are starting to get a decent shorting op here. The Euro has tested these recent lows 3 times now. It is rare to see a triple bottom, the move tends to go with the third test. With that in mind I am looking to start picking away at a short position, I expect a break of those lows and have target right infront of the fib projections, see chart below.
not much changed
Posted by Cire2222 on Jun 4, 2008
Past couple days I have been talking about Dollar strength. The two places I wanted to be were EUR/USD and USD/JPY, these trades have been working out well. In the charts below you can see the EUR just getting no love the past few days and the USD/JPY moving up and looks like it may be breaking out of the classic ‘W’ formation. I would recommend taking some profits off the table here but No reason to take the whole position off, both these trades should continue the move.
The search for an oil top
Posted by Cire2222 on May 10, 2008
We were able to catch a top in gold, a top in the Euro and the last attempt for a top in oil failed ( I thought they would move together) So now here I am looking for a top in oil again. I would wait for confirmation before making a move but here is a thought on Oil. The EUR/USD hit a consolidation phase, broke out and ran hard to the 261.8 Fib extension with once sharp quick pullback reaction on the way up then found a top. When I Pulled up the USO (oil tracking ETF) I see a similar situation. See the charts below
Employment Numbers
Posted by Cire2222 on Apr 3, 2008
another choppy day to end flat. Expect much more action tomorrow as we will get the employment numbers before the opening bell. Going into the numbers The only trade I would feel comfortable holding is a gold and EUR/USD short. The Range projection numbers will not be posted tonight as they tend to not hold up well on a big news day which I expect tomorrow.
