Christmas is only days away and I’m sure you have more urgent things to attend than to stare at charts or talk about them. But for the die-hards amongst you and the 5 Billion non-Christians frequenting this blog I thought I’d throw up a few forex charts, some of which appear to be ripe for the plucking today or tomorrow.
This doesn’t seem to be my month as I had an extremely crappy day yesterday. And I’m not even referring to the almost instant stop outs I racked up on the E-Mini and the EUR/USD (fortunately position sizing was small in anticipation of monkey business). So what happened was that I got in touch with my hosting company about some strange errors a few readers and I kept seeing when loading the site. Some sys admin at my hosting firm decided to dig deeper and then came back saying that evilspeculator had suffered an SQL injection attack and that the entire database most likely would have to be rebuilt. YIKES!!! Relax – it turned out to be bullpucky and everything is [...]
Okay, it seems like the EUR/USD is on the brink of breaking out plus as you recall my hands are thrashed, so I’m posting this with minimal fluff or entertainment value and then fill in the post with additional analysis and thoughts over the coming hour:
The equity market in particular has become extremely good at luring and then trapping people into highly volatile reversals. Which especially is true for those rare moments when we may be tempted to trade against the prevailing trend, which of course continues up, up, and then up. Given the increasing number of traps placed in front of us on a weekly basis I have a hard time imagining how anyone could succeed trading equities on a long term basis without the aid of some sort of participation measure (a.k.a. market lie detector) as for example our very own Zero indicator: