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Small short gbp:usd at 1.3300
Risky trade.
Based on the Powell 3 way reaction.
I have been asked to find an STD trade plan for FX.
This is a 24/7 kind of futures type market and not cash as per STD stocks.
A way to concentrate my mind is to trade FX
Quite a task but a new challenge for me.
Never give up, never surrender.
I have been asked to find an STD trade plan for FX.
This is a 24/7 kind of futures type market and not cash as per STD stocks.
A way to concentrate my mind is to trade FX
Quite a task but a new challenge for me.
First task close my gbp:usd short !
Never give up, never surrender.
Small short Dow at 28725 … stop 30000 … limit 24000
S1H friday bookends S4H monday
The ‘normal’ is for bullish friday == bullish mondayNever give up, never surrender.
SPX is approaching my revised target of 3,516. Yes, it will probably spill over into Monday.
The first few days of a new month are often bullish as new money enters the market. However, I’ve seen September start off both strong and weak. The boys return from their summer holidays and volume increases. If they see high prices a wave of selling/profit taking can ensue.
Am I brave enough to short my target? Probably not the most sensible action given this rampant market. A peak and reversal – at least some sign of weakness is needed.
Market tops on fridays are not common but
then we have seen black mondays.UK holiday monday 31st Aug
US holiday monday 7th SeptNever give up, never surrender.
DXY: the target for the dollar trade weighted index is still 91 or so (actually nearer to 90.5).
The pattern seems to be tracing out a 4th wave (of C) and perhaps declining in an overlapping 5th,
There seems to be a correlation between the strength of the equities markets and the decline in the dollar. Something to do with all the dollar printing by the fed (excess supply).
It’s possible that a bottom and reversal in DXY will coincide with a top and reversal for equities.
SPXDXY: on this chart I’m trying to show that there is some correlation between DXY and SPX. Note the period of B wave DXY correction which coincided with the SPX B wave.
This suggests (guess) that an equity market correction will start when/if the DXY reaches the 91 target.
I think that is a nice positional trade over a 1 yr window
with the option to take profits as and when you want.Sell US stocks and buy dollars.
I am short the Dow at 28725 now I need to buy dollars.
Never give up, never surrender.
Summer soon to be autumn !
UK Treasury Department want tax hikes to boost the public finances
hit by covid19 … Sunday Times and The Telegraph£30bn tax raid on the wealthy, businesses, pensions and foreign aid.
November budget.
Never give up, never surrender.
SPX: just a repeat of my recent SPX chart which shows a nice count to 3,516.
If it goes above 3,516 the next target is in the 3,545 area. The problem with that is that the ‘fives’ pattern would look disjointed and probably invalid.
So: 3,516 the most likely. Above that something else is happening.
Small short Dow at 28725 … stop 30000 … limit 24000
S1H friday bookends S4H monday
The ‘normal’ is for bullish friday == bullish mondayClosed at 28625
Never give up, never surrender.
Wow … those Dow longs got fried … too many in that boat !
Spx longs were had over as well !
Never give up, never surrender.
Today the lean is S4H after spill down to complete
a virtual S3L sunday.Once S4H pt8 (h) is sealed it will be a bun fight for the close.
Never give up, never surrender.
I am with hatman in that I would not buy into any move
that did not reverse both US stocks and US dollar.No positions for me atm.
Never give up, never surrender.
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