Gold has gapped up and rallied through the 1423 level over the weekend, so the setup is no longer valid. The level remains a very significant one- if we get a strong rally here and then trade back into the level in a few weeks time it will be a great buy on the retest.
I will keep you updated on this one. The usd.jpy trade is still in play, let's see if that triggers.
Monday 21 March 2011
Friday 18 March 2011
Two New Trades
Afternoon guys,
Gold is at a great level now at 1422. High probability of a bounce if we trade back into the level.
Looking ahead to next week, the dollar yen is also very likely to trade back down to the recent spike lows. We look to sell 80.56 if the price breaks down and retests this strong area correctly from below. Target area is 76.12 for the time being.
Gold is at a great level now at 1422. High probability of a bounce if we trade back into the level.
Looking ahead to next week, the dollar yen is also very likely to trade back down to the recent spike lows. We look to sell 80.56 if the price breaks down and retests this strong area correctly from below. Target area is 76.12 for the time being.
Thursday 17 March 2011
Level bounce in the Nasdaq future
Hi guys,
First of all welcome to the blog where I will be outlining a few of my technical setups in the markets ahead of time.
A setup has appeared on the nasdaq weekly chart below. I am looking to buy 2063 with possible targets at 2107 and 2190. We do not know if the price will even trade down to this area at this time, but if it does I will be ready.
If the bull run continues and this news blows over without a disaster (let's all hope it does), then I will move on and look for other trades elsewhere. It costs nothing to prepare setups like this in advance.
Please note: I vary my bet sizes on each setup individually as I have several non-technical criteria that I use to filter the setups. The stronger these confirming criteria are the larger the risk taken on that particular trade.
First of all welcome to the blog where I will be outlining a few of my technical setups in the markets ahead of time.
A setup has appeared on the nasdaq weekly chart below. I am looking to buy 2063 with possible targets at 2107 and 2190. We do not know if the price will even trade down to this area at this time, but if it does I will be ready.
If the bull run continues and this news blows over without a disaster (let's all hope it does), then I will move on and look for other trades elsewhere. It costs nothing to prepare setups like this in advance.
Please note: I vary my bet sizes on each setup individually as I have several non-technical criteria that I use to filter the setups. The stronger these confirming criteria are the larger the risk taken on that particular trade.
Subscribe to:
Posts (Atom)