Freebie Friday

Equities are heading lower as I’m typing this and I have decided to move my stop a bit further up to the 100-hour SMA. Quite frankly speaking there comes the time when a market simply doesn’t hold much of an edge and it’s best to simply focus on other verticals (i.e. forex, bonds, and various other futures).

Given what we’ve had to work with I think we’ve done brilliantly. But observing the developing mess it’s clear that this may not resolve until the FOMC makes a more decisive statement about the planned hike in interest rates. Until then things appear to circle in a general holding pattern.

Plenty of movement in other markets however – here’s the 30-year bond contract which looks like it just may want to climb higher. However the general trend is down and I’m only attributing 1/2R to this.

Crude has been testing our patience and I don’t think it’ll make any big moves anytime soon either. However a long position here could be good for a few ticks and I’m throwing 1/2R into this pit.

EUR/USD touches its 25-day SMA earlier and I’m grabbing a long with a stop below the spike low (and new NLSL). As you know this is the trade I love to hate – in general I’m pretty happy about the current sideways formation as I earn in $s and spend in €s.

Otherwise, not much going on this morning. Summer is nigh and many of you guys are busy planning your well deserved vacations. Next week I may actually put together some educational posts as the tape is surely putting us to sleep lately. If you have a particular topic you’d like to see covered then please chime in here.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,