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SYSTEMS FOR FRIDAY 4TH OCTOBER 2013
Hi all,
Recap ….
Intraday wise …. I banked 8.50 points in spoos today.
I have 1 short in Ftse & 13 shorts in spoos and 2 swing positions open.
Onto today …
KP
None in play.KTB
We have a KTB2 triggered at close on 01/10/2013.
IT IS NOW NEGATED AFTER DAY1.KTS
We have a KTS5 triggered at close on 03/10/2013.
TODAY IS DAY1.SYSTEM BDIP
We have a BDIP triggered at close on 02/10/2013.
TODAY IS DAY2.DAY1… We got a low of -20.25.
DAY2…
DAY3…
DAY4…DDUD
We have a DDUD season triggered at close on 11/07/2013.
It is now negated after DAY2.SYSTEMS TRIGGERED
ESL3 ND
SHOULD GIVE A -3SYSTEM ESA (KHC+3)
SHOULD GET +3/+5/+7, HOWEVER IT CAN BE AFTER A DRAWDOWN, CLUE IS TRADING > +2.SYSTEM ESH1
MORE CHANCE OF UPSIDE THAN DOWNSIDE, USUALLY TRADE -VE AT SOME POINT, NORMALLY GET +3, IF NO +3 THEN RARELY CLOSES AT LOWS, DOWNSIDE UNSUSTAINABLE. CHANCES OF +5, +7 ALSO. ALSO THE CLOSE CAN BE VERY ERRATIC. AFTER THIS SYSTEM THERE IS ANOTHER CHANCE OF A +3 THE NEXT DAY,ES 5C (KHC+3)
USUALLY GIVE A +3 AND CLOSES POSITIVE. RARELY CLOSES AT LOWSES18 (KHC+3)
GOOD CHANCE GAP UP OPEN, LOW TRADE -3 POSSIBLE, VERY GOOD CHANCE OF +VE CLOSE AND NEAR HIGHS, CHANCE OF +5,+7,+10SYSTEM 81A (KHC-5)
USUALLY GIVES A BIG NEGATIVE PRINT AND CLOSES NEGATIVE, BUT IT CAN BE VIA A +3/+5SPX 19 (KHC+3)
SHOULD GIVE +3/ +5. POSSIBLE GAP & GO DAY.SYSTEMSPXH1
CAN GIVE +3,+5,+7 WITH A POSITIVE CLOSE. THE CLUE IS NOT TRADING MUCH NEGATIVE RTHSpoos closed at 1669 (basis Dec)
K+3 = 1672
K -3 = 1666
Conclusion
We have 4 KHC+3 & 1 KHC-5 SYSTEMS in play.
We also have a BDIP DAY2 and KTS5 DAY1 in play.
Plan your trade, trade your plan!
Again despite all the newsflow and volatility, yesterday the banking tally here was 8.50 points. That was all with the safest possible trades and a desire to try and run no trades for other than a day/2 day timeframe
So where now?
Plan your trade, trade your plan!
I am going to keep this brief in view of its crooksday.
NFP’s have been cancelled today due to US Government pollux
SYSTEMS wise we have a magnitude of +ve KHC’s which suggest a +3/+5 minimum but against that we also have a KTS and BDIP in play (bearish combo)
The KTS is a KTS5 which can often lead to a pop on DAY1 and then drop on DAY2 or intraday pop and drop.
Resistance to is 1675/7 area. Above that resistance is at 1680 and above that it can try for a rally.
Support is at 1663 below which it will continue to make lower lows.
As it stands I may short 1677/80 but probably do nothing until RTH
Plan your trade, trade your plan!
Good Morning , Asat Sri Akal ji, Asalam alaikum , Jaisay Krishaan Pranams – Juuamh Mubarakha
NFPS “cancelled” – I wonder when want do tehm be nice if aroud D DaY 17th OCt debt ceiling time
ALso saw a bit about that shooting Car /woman ( baby saved) On news. Must say Security forces Cops etc Even with this LOCKDWON 2no PAY” where there adn DId their 2JOB2 and I bet Fat cats wafflking inside Senators etc alll with Full pay booze nd Lunches. I was just thinking WHY did they Not disable teh car by Just knock out teh tyres and cathc her alive etc.
SPOOS S1H day inclined at moment
NEW MOON – market can Go Looney
Good Luck to us all
rgds
Zarif
Small droplets of rain turn into Rivers, Streams and Mighty Oceans
Do my eyes deceive me or has Cable rolled over, I’m looking for at least a 38.2 retrace down to 1.56 but have noted the trend line coming up from July low crossing with the 23.6% retrace at 15904 ish all on Dec contract.
Any views out there?
Arj … I tend not to trade currencies anymore and just stick to S&P (and DOW, FTSE, DAX when can be used as a substitute).
This is because the more you do, the more chance of making a loss or getting stuck.
For me it is all about is all about winning and not getting stuck nowadays.
However to answer your question, I think it depends on your view of the USD. The USD remains in downtrend and if they default or close to, then USD will fall further quickly.
For me on GBP/USD, circa 1.6300 is a must hold. Although I do not believe it can, if that goes then it can get to 1.7xx.
SO if you want to play it your stop will need to be circa 1.6300. (wide range of resistance from 1.6270/1.6350)
I hope that helps, but if you got any other questions, please ask away.
Plan your trade, trade your plan!
Furthermore Arj it can retrace to 1.5900 if it wants, but other than intraday bearish, I cannot see much else
Plan your trade, trade your plan!
Agreed K on GBP, I’m looking at the 1st Oct shooting star candle as resistance and ultimately the previous high of Sep 2012 around 1.63.
I currently hold two cable shorts both in profit for once one with 160 pips and other with 125, stops at break even.
Daily RSI 14 has a long way to go but the 2Hr, 1Hr and 30 min are way oversold.
Do I take profit or do I not, as my biggest problem is I always cut my winners too soon and let my losers run.
Right moved stops down to lock in profit of 250 pips across the two trades.
Wicked stuff Arj. Sounds like a plan to me
Plan your trade, trade your plan!
Ok we are off! Good luck all.
Gap < 3 points so no GFS today
Plan your trade, trade your plan!
1669.75 is the gap fill.
That needs to support for bulls.
If not it can get towards 1663 again.
The main thing is its a weekend. Very good chance of some pollux over the weekend that causes the market to gap up or gap down on globex open sunday night
Plan your trade, trade your plan!
Excellent stuff Arj. It is so satisfying when that happens.
I have yet to trade today
Plan your trade, trade your plan!
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