TRENDING
Fujisan here.
It’s been so much fun visiting Vegas once again — too bad that I have to fly back to Seattle tomorrow morning.
Before I head out for a dinner tonight, I am going to make one quick post that I would like to share with you – that is how to use the pivots to your advantages.
Depending upon your trading time frame, the pivots could be used in a monthly, weekly, and daily set up, and let me give you a very good example of monthly setup with my GBP/JPY trades.
GBP/JPY Trade
Before I was taking off for Japan, I saw GBP/JPY was hitting right around the monthly R1 pivot points. I then built my position right around a [...]
Fujisan here.
I slept in with too much margaritas and buffalo wings last night… and it looks like I missed a great short opportunity.
After all, today is going to be another doji day. I would have to say that the market has been very precisely closing right around 1030 level for the past 5 days, and I’m expecting the same type of price action for another week before it finally rolls over, as I discussed in my posting yesterday.
In the mean time, the market gives us an opportunity to make money in both directions with a wide daily range, so let’s make some money! We are getting very close to the top!
Here is a chart that I posted [...]
Fujisan here
I just came back to the States and I’m making a couple of stops before I head out to Seattle. Yes, I’m in Vegas, enjoying nice food, shows, and relaxing atmosphere. If you see a Japanese woman playing with a laptop computer by the swimming pool, that must be me!
Before I head out for a dinner, I thought that I should go ahead and do a comment cleaner.
One thing that I like to point out here is that I see the same type of topping pattern formation as I saw back in June. I’m using the previous head (now the left shoulder) as my road map for this time around. I’m expecting a high level of consolidation and many [...]
1:19pm EDT: I’m all packed and ready to head out the door – here’s one final updated count chart for you rats:
The bulltarts really don’t want to let this one go – so expect a lot more of this whipsaw until the tape finally picks a direction. Notable this morning was a distinct incrase in participation as evidenced by the signal line on the Zero Lite. At least we’ve got ourselves a bit of a battle going on.
The Dollar is hanging on – so far so good. Again, this correlation can detach for a while – but in conjunction with recent investor sentiment readings it does provide supportive evidence that there will [...]
