About meFull time trader. Creator of SAM, a financial publication.
"It was never my thinking that made the big money for me. It was always my sitting. Got that?"
The longer I have traded, the more I believe that is true.
Above is what I am currently watching on this pair.
The outcome will largely depend on what the NFP report is relative to expectations.
I would not trade until after the report at 7:30 a.m. CST.
Have a good night:)
Under Armor missed their revenue target after 26 consecutive quarters of at least 20% revenue growth.
Since trading above $52.50 in 2015, their shares have fallen 60%, now trading under $22.00.
This article from spring of last year sums up the "athletic wear" market pretty well.
For me, I think this stock needs some time to settle down.
The article speaks...
Taking profits early was a hard lesson I had to learn. I occasionally still do it. See chart
For me, the key to LONG-TERM success in this business is not your win/loss rate, but the magnitude of your wins vs your losses.
My biggest mistakes have all come from taking profits early, not from taking small losses.
GLD held the broken trendline and the $110 level.
The price action at these levels does not jump off the screen at me, meaning it looks shaky IMO.
I would not be surprised if we revisit $100.
I still believe the long-term R/R is to the upside from these levels.
I will be looking to buy dips b/w 100-110. I would stop out under 100.
Let's breakdown the...
I am short at 83.10 with a stop at 83.25.
I sold last Friday after a failure at the 83.20 level.
My first target to B/E is ~80.
Here is my framework on how I think through a trade.
Is this trade worth taking?
* Where is the R/R right now? Is it obvious?
* Is the market trending or ranging in the time frame you are watching?
* Is price currently at a level...
I am in wait and see mode. If GLD can close back above 110 at the end of the week, I might look at taking a small position.
FOMC meetings can produce fake moves with little to no follow through the next day.
Any thoughts? Please leave them in comments below.
Price stalled at the 200-4-hour moving average and the .75 level.
The R/R favors a short position, IMO.
My only hesitation are the two events that are tomorrow. The FOMC and the AUD employment report.
Might be a good spot to sell for a day trader, but my time frame is longer and I believe the risk is too great.
Agree/Disagree? Let me know in the comments below.
Tesla is trading in a 180-280 range.
My strategy would be to trade the range with a bias toward the upside.
There are strong feelings on both sides as to the potential and LT viability of TSLA. I don't have any particular insights. If you do, please share in the comments section.
I am counting 10 straight positive weeks for this pair. Momentum is powerful, so more upside could be in store, but the R/R favors a short position from these levels IMO.
My target is noted on the chart(green arrow). That is an aggressive target, however, I have found the big money is in the big swings, so I am willing to wait.
I will update this chart if I...
Price is coming up on support at 1.0380.
The 1.0380 level was tested several times last week and held (note green arrow on chart).
I believe the R/R favors longs at these levels. I will be looking to buy in the near term.
AUD employment report to be released on Wednesday at 6:30 p.m CST.