Furious And Furious Friday
We got movement people! And obviously I’m not talking about equities where we’re still spasmodically bouncing around in the same six month trading range. Booooring! Unless of course you are the evil lair’s official Swing Slayer and that coveted title is already taken by Skynard. You will have to defeat him first and then send me one of his digits to assume his position. It also helps if you either have at least one dragon or an army of White Walkers at your disposal. Either that or just send me money – I am surprisingly corruptible.
Okay, let’s get the tedious charts out of the way first. Equities – I’m risking a tiny long position if it touches 2095 with a stop below 2090.
Alright so I was talking about movement, remember? Plenty of that across the softs in recent days (i.e. corn, soy, wheat, etc.) – you guys really need to get yourself some futures accounts. Speaking of which, do you still remember the soybean diet I pimped the other day? Soybean oil has advanced beautifully and I’m now putting my stop below a recent spike low. I think that one has potential to go all the way.
On the actual soybeans contract it’s time to head for the hills after a beautiful stab higher. Sure it could push even further but my target has been hit and that’s that. I’ll keep an eye on it however for new entry opportunities – preferably after a little shake out.
GBPCAD – fascinating formation on the daily – rarely seen anything like that on the forex side. I’m happy to play the swings here just for fun but I reckon that it’ll be ready to pick a direction early next week. Be careful usually you’ll see a fake breach first – if you are really good at this game then you can try to play the fake breach with an inverse position. Paging Skynard the Swing Slayer!
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You have been briefed – now have fun but keep it frosty. If there’s anything interesting to share (and if I see you guys actually showing up – I know it’s summer… yuk) then I’ll see you guys later this afternoon.