Equities are not looking so hot right now. Especially the hourly panel looks like a veritable war zones, with spikes, trenches, and traps resembling the Western front during WW1. So even thinking about a long position here most likely sounds just as appealing as any of Baldrick’s ‘cunning plans’ featured in the series Black Adder. As a personal side note – if you have been tragically born without a sense of humor then there may be hope for you. Just treat yourself to a season or two of Black Adder and I promise you’ll be the life of the party next time around. Either that or they’ll have you committed.
If I would have to name one single quality in this game that separates the few winners from all the losers I’d point at persistence as what counts the most. There’s not one day that goes by when I don’t work my butt off to keep myself on the winning side of the tape. You’ve seen me post quite a bit of educational content as of late and it seems to have been well received as we got several likes by stocktwits and some renowned players. But at the end of the day knowledge and even skill means absolutely zilch if you don’t show up for work every single day and press that button when it’s time to take action.
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.
We are seeing quite a bit of activity this morning with Draghi attempting to jawbone the EUR lower albeit with limited success as the EUR/USD seems to be ready to deploy its second stage rocket boosters. If nothing else he’s giving Yellen a brilliant run for her money when it comes to insinuating more dovish monetary policies despite having run out of ammunition and now attempting to face forex vigilantes armed with a BB gun. There will be blood, mark my words.