Crude is consolidating nicely and setting up an opportunity. The questions remains...can she test the lows again. If the down side breaks be careful or a fake out. False breaks will be bought fast to trap the weak shorts. Use triggers and stops to protect.
Could Goldie be looking for her cup...and handle? She is a bit over bought and needs a rest. We will watch her closely to see if this can play out. WATCH LIST!
After covering our position last week we are looking to get long on pullbacks. If price doesn't pullback to our zone we will look for a consolidation pattern. We will be using smaller position size on this next leg...we could be getting long in the tooth up here. Wait for your trigger
Minor resistance held and now the August lows must hold otherwise we will have a date with the 3700 area. We are shorting all pops until last weeks highs get taken out. REMEMBER NON TRIGGER - NO TRADE!
If the Russell can take out the most recent lows then our long term target comes into play. Study the pattern!
WOW...we missed this leg of Goldie's run...be patient with her. When she decides to roll over, she can. We will wait until another consolidation or pullback to look for a setup!
COVERED...we are covering our small position on the second day run. We didn't not get the pullback we wanted. We will wait for a pullback or consolidation to re-enter for another leg up. IF YOU MISSED THIS TRADE...DO NOT CHASE IT!
THIS IS A CLEAR BREAK! We started this trade with our smallest size and have taken some off around the 200Day MA. We are looking to add another position on a pull back with a trigger.
Goldie may have another move in her. We like the Trigger zone for longs. REMEMBER: NO TRIGGER, NO TRADE!
Crude opened and blew through our trigger zone. Just as we suspected, crude may not be done on the down side...but it's getting close. Bottoms (and tops) take time to form so we will waiting until we see a signal forming. Protect your powder!!!!
Crude had a nice break from a small consolidation pattern last week. There were rumors flying which helped the pop. We are seeking a trigger on a pullback to the Trigger Zone. This will be a small position (Tier 1) as we know Crude could roll very quickly. If we are able to get long we be keeping a tight leash on this trade. NO TRIGGER, NO TRADE!
FOMC week is over and we still have nothing from the EURO. We believe the central bankers are out of bullets and are not sure which way to turn. If the market sniffs their weakness we could see a sell off in the US markets which would send the EURO higher. For now we wait out the choppy mess.
Bulls defended the 4125 level and thanks to the Bank of Japan (BOJ) got a boost on Friday. We are now getting close to Minor Resistance and we are showing that we are oversold (short term). We will nibble on the short side if we can get a trigger in the resistance area. We expect to so this are Tuesday or Wednesday. Remember, NO TRIGGER, NO TRADE!
FLAT...we covered our position on this AM sell off. Crude popped over rumors which drug the indexes with it. Goldie rolled over and puked after making a new high. We are on the sidelines waiting for another opportunity. Stay tuned.
Aunt Janet to the rescue. The FOMC didn't raise interest rates which sent the indexes tumbling and popped Goldie. We are getting close to our final target (200Day EMA). If we see any weakness we will cover the trade We also pulled the stop WAAAAYY up to lock in profits.
UPDATE: We took our 2nd target at 1122. Stops are pulled just under our entry. Now we wait for Aunt Janet for some love. LESSON: Observe how we managed this trade in order to give ourselves an opportunity for an FOMC pop. If you missed the trade be patient and wait until after the FOMC news to find new trades.
The EURO flirted with our break area and retreated to the mean Monday. Now all eyes are on FOMC. We will AVOID the EURO until after the meeting and announcement Wed (in the USA). It's not worth the coin flip in this area. There will be better set-ups afterwards. STAY PATIENT!
Third times a charm. We waited for the second resistance area to get long...again. We have been playing the long side for a while and we think Goldie has eyes on the 200 day EMA. For now we have our 1st target and hopefully get number 2 before FOMC. Aunt Janet surely can't pull a Mario and knock us out of our position? ;)