Happy Monday everyone. I’ve got my eyes on gold this morning which touched hourly support on Friday and has been pushing sideways since the Sunday open. The daily panel is looking extremely tantalizing as gold futures have been painting a sideways pennant with a diagonal support line which is currently backed up by a stack of daily Net-Line Buy Levels.
If the bulls want to breach the current ceiling then someone better call Mackelmore & Lewis, because as of now she ain’t budging. After a pretty annoying and range bound session yesterday we remain pinned below 1940 which is an intermediate hurdle before we reach real resistance below approximately 1980.
I hope you all enjoyed your extended Presidents Day weekend. By my count this was the last holiday for now until after the summer – one hopes! Although the weather was pretty nice over here in Spain I actually wound up slaving away on some internal projects through most of it. As the saying goes – no rest for the wicked. I’m a bit exhausted and in dire need of some gym time, which is why I didn’t at all mind seeing calm seas overnight with no drama on the equities side.
My demo campaign actually stopped out on Friday evening due to an EOW routine I still had left in the code. I now made that a flag as I want to be able to choose whether or not [...]
I had the right ideas yesterday but for some reasons various entries didn’t trigger. So let’s try this one again, shall we? On the equities side I missed out by just a matter of ticks but there is a reason why I’m being such a hard ass with my entries.
We’ve seen a ton of intra-day volatility in the past few weeks and I don’t expect things to quiet down anytime soon. So a more disciplined entry afford me a stop with higher odds of survival. Keep in mind that the stop distance affects the amount of contracts I need to fulfill my R size. The wider my stops the smaller the amount of contracts. That not only affects my leverage but more [...]