You can remain focused on the “distractions” as Greece continues to take the headlines, or you can pull your head out of the sand and wake the f%k up.
USD is “make it or beak it here” so trades are locked and loaded….but I don’t pull triggers on Fridays.
Snippet from the members section:
We’d really be picking bottoms here as it’s “still” too early .
Looking at a 5 minute chart of GBP/USD you’ll want to “at the bare minimum” see the 5 minute chart CLEARLY TRENDING UPWARD so….pull out to see att least a full 5-7 days of trading and plot the 200SMA to start.
You’ll want to see this turn “upward” regardless of the actual price level before entering.
Sure the level looks great “now” but from a safety perspective – let it start making “higher highs and higher lows” on this tiny time frame to even consider entry.
As it stands…the 5 min has yet to turn upward so…..consider how small / micro we are looking now.
I would rather see the 15 min “as well” th 1H trending higher before entry but…..we are getting very close to a point where “legging in” makes sense.
This can be reflected/applied against any USD related pair here, as we “hang” on the cusp of trend change.
Imagine hitting it on a 15 min time frame as still being “sooooo early” right?
No reason to enter here before the weekend. We’ll miss nothing.
Are you trading forex yet? Or are you getting completely smashed trying?
This is a quick look at where I’m looking for my next trade entry.
This scenario suggests that USD has not yet found its intermediate term low, and that we’ll see another substantial leg down “first”.
On the flip-side USD breaks upward, breaking though the 50 SMA ( now clearly pointing lower ) and heads for the highs..only to stall out there and spend “eternity” flopping around at similar levels.
You’ll have to appreciate that all the fuss about Eur/Usd is just more “retail propaganda” manufactured by the financial / foreign exchange industry to have you trading the pair “thinking” you’ve got an edge or an advantage. These are the planets two most widely held “reserve currencies” and will always “flip and flop” based on simple market mechanics.
Pull a monthly chart of EUR/USD and realize the pair can trade in as wide a range as .40 cents! Without a single “meaningful repercussion” to either economy. There is no “fundamental reasons” to track the pair…..and I rarely trade it.
Retail flock to it….as the media would have you. Silly.
If USD turns “on cue” you’ll have to expect U.S Equities to do the same…. but then again….I’ve been saying that for a looooooong time now.
The “range grind” continues.
I dug this gem up from the early days……its worth another look as graphene “will” be a game changer. Say hello to hotels in space.
The U.S.D short’s have been amazing, and the profits are in the bank.
Several of the usual trolls lurking ’round Kong have been silenced, and the world is a beautiful place, with both The British Pound as well The Australian Dollar looking a little “top-heavy” here.
I expect a modest bounce in USD and in turn, a pullback in oil and commodity related names in general.
The stock market? You can have it. If waking up every single day to this endless back n forth / see-saw is your idea of a good time…..all power to you. Having “not paid attention to it has been one of the most liberating moves of this entire 2015.
Stocks are going nowhere. Nowhere this month, nowhere next month and then down for the forseeable future.
The US Dollar now at 4 month lows will pop for a small correction “upward” here – then she’s all down hill.
I’ve finally tracked down the few missing parts for the spaceship still parked on the rooftop, and plan on smuggling them out of Canada mid month June.
I’ve come in contact with some very “tech savvy Canucks” here as of late, and feel that lift off is now “imminent”.
Mrs. Kong has done a bang up job keeping the authorities at bay, as the craft itself has been difficult to disguise. The small crowds that gather out in the front yard have now been disbursed, thanks to a couple $20 Canadian Bills having been passed to my dear friends the “Policia”.
Oh how I love authority. Oh how I love the police. Such kind, warm-hearted gentleman – and only there to help.
Markets look like a runway. Flat as pancakes for you equity guys, while our short US Dollar trades add a whopping 10% over the past few weeks. Plan to book profits here again……and prepare for bounce/next leg down.
The next one takes equities with it.
The only missing piece now being these damn spacesuits. You know…..the moon landings back in the 60’s? Made of paper more or less – and wouldn’t have kept out a single ion of radiation ( of which space is filled ).
At least these days the technology exists. I’ve just got to track it down.
Taking profits short USD today. Bounce then re enter short.
Placing “want ads” now – Interstellar Seamstress needed.
There is a potential USD breakdown in play here as we’ve been playing the short side lately – with great success.
Waiting for a bounce before re entering “short USD as well short risk in general” may not even be an option as USD pairs are moving fast and furious this morning.
You leg in……get a couple contracts here this morning long EUR, GBP short USD/CAD etc as to not miss potential “waterfalls” BUT…stay liquid enough to buy additional contracts “if” a bounce occurs over coming days. IT WON”T LAST LONG ENOUGH TO MATTER.
Average in for a medium term hold, or just a “great freakin trade” here short term.
Yellen openly suggests danger in equity prices………bubble popping time?
If you haven’t sold NetFlix by now……ugh.
Watch those little mining companies…lower USD means Gold and Silver UP.