I’m not really hot on any new positions this morning but I did close out a few of yesterday’s short term campaigns. Although I was able to snag two good ones there’s one that played me for a sucker:
GBP/NZD – I dug deep and grabbed a few longs after seeing selling exhausting. It was the right move but the bastard wound stopping me out by a mere two pips before it took of like gangbusters. Just to show you that this happens to everyone – nobody gets a free pass from Ms. Market.
Fortunately I had the foresight to also grab a few longs on the AUD/NZD. Sweet move here as well and I just took profits.
My EUR/USD [...]
I think today’s session should serve as a stark reminder that the very last thing you should ever attempt is to apply even the slightest sliver of logic to market behavior, especially during volatile periods. I’m going to make this very easy for you rats, so listen up and listen carefully now. If in doubt or if you find yourself attempting to make a prediction as to where the tape may swing in response to big news events remind yourself of the following:
Now read the line above again a few times and then write it on a piece of paper and stick it to your wall or resident shark tank if you have one handy. I prefer the latter as it serves as a proper backdrop [...]
Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.
The week is hitting the ground running it seems. As Skynard mused in the prior post – we are most likely going to see a spike in volatility here today. The spoos are looking super juicy here as we are tickling support and it’s my patriotic duty to grab a long position with a stop below 2099. Below that we’ll probably drop into [...]
I trust you all had an enjoyable spring weekend. Over here in Valencia it’s starting to get pretty hot already and I saw some of the clocks with temperature signs flash 36 Celsius (97 Fahrenheit) when I was heading to the beach, where it was fortunately much cooler with a lovely breeze. During training with my crew some Ukranian dude versed in MMA suddenly showed up and started to criticize our training style. I wound up sparring around with him a little which was really interesting as he was desperately trying to get me into a typical sparring exchange (jab jab – dancing back/forth). Systema teaches us to remain loose/relaxed and to not let the other guy direct the pace [...]