The pips kept flowing last night:
E/J Up 130
USD/SGD up 100. Said I'd leave this pair this week......maybe I shouldn't have!
Loonie Up 100....I forgot to post this TS signal yesterday.
The E/U is firing too. I'm in this long from 1.265 but this is not a TS trade really...more a significant trend line break trade.
Friday 7/9 (9.30 pm) 425 pips and counting!
The TS signals are still firing along. 425 pips and still going:
E/J Up 130 pips
A/U Up 90 pips
USD/SGD Up 65 pips
The S&P500 hasn't given a TS signal on the 30 min chart.
Friday 7/9 (2.30 pm)
Woo hoo! I love the confluence of trend lines and TS signals!
A/U: up 70 pips!
E/J: Up 90 pips
An Intra Day SPY trade from 06/09/12: an update for those of you who can day trade USA
There was another possible Call Option trade on the intra day charts with the SPY last night; last night for me that is. The S&P500 gave a TS 'long' signal on the 30 min charts. This really started off in the London session on some up beat momentum from some ECB news rumours:
The S&P500 was trading at around 1407 before the signal so, if I was looking to buy a Call Option, I would have looked at a SPY $141 Call. The September 141 Call was trading at around $1.73 yesterday. This is approximated though as I am working backwards from today's updated data. This Sept 141 Call finished the day at around $3.33. That was an increase of $1.60. This data was taken from Morningstar:
Thus, the maximum possible return from this trade was as follows:
Initial Bought SPY 141 Call= $1.73
Final Sold SPY 141 Call = $3.33 An increase of $1.60
Return on Risk = ($1.60/$1.73) x 100 = 92% ROR for 1 day! Not bad heh!
I'm out for the evening now.
There isn't much more happening on the currency front. I have updated my TS + SPY page to show how last night's move on the S&P500 could have been easily day traded with low risk Call Options. I have notions of moving time zones when my son finishes school!
There were some great TS trend trades off the 30 min charts last night:
A/J 100 pips:
The ECB comments were viewed favorably and this has added to 'risk on' sentiment overnight:
The Aussie pairs were some of the first out of the blocks:
The E/J and Loonie were there too:
The E/U rallied as well and has closed above the major S/R level of 1.262. Its currently looking like its re-testing this breakout level, a common phenomenon:
I've has TS signals on the A/U, A/J, E/J and USD/SGD but, that's all for now.
Gold has paused which isn't surprising. A lot of money flowed into stocks last night instead:
The S&P rallied by 200 point last night! This would have been a great night to trade this index; either by buying Calls on the SPY, as I have illustrated in my TS + SPY page on this blog, or by selling Puts or e-Mini Futures etc:
I'm long on the A/U and A/J.
I've just had a 4 hr candle close. Many pairs are trying to form 'risk on' TS signals but they didn't quite make it on the last candle. I suspect that ECB news will dictate whether they continue to form.
I've posted a few stocks/ETF charts that I'm watching in a new page 'Stocks: Sept'.
PS...loving' the look of this pair too...
The USD has re-tested the 81.70 level again since I last updated. It is back down below the broken weekly trend line again though now:
I realise that future momentum will be news driven but the indices have more resistance in their path for 'risk off' trading than 'risk on'. The daily cloud charts also show how 'risk on' looks more favorable than 'risk off':
I have no idea which way currencies will move. I'm just commenting on what the charts look like...AT THIS POINT IN TIME.
The E/U is where I left it at a major S/R level and significant trend line:
The A/U is still conforming to the descending wedge too.....although the trend lines might need to be moved a smigde:
No TS 4hr signals yet...everyone seems to be waiting for Super Mario to speak later tonight!
The EURX rise has eased a bit and it seems to be re-testing the cloud breakout. It is also forming either an indecision Doji or reversal type shooting star pattern on the daily but has a couple of hours until it closes though:
'Fundamentals', by way of news, and not 'Technicals' are going to drive these markets from here though. I do see a return to 'risk off' as entirely possible but this directional move will be fraught with more resistance on both the USDX and the the EURX than any 'risk on' move. Check the charts above to observe what I mean. I will trade whatever I see and whatever signals I get though, when they come. I don't have any TS signals on the 4hr charts just now.
I am away again now for a day or so.
I'm only just back from being interstate and I head off again in the morning. I've been keen to catch up on the chart action. Whilst there have been moves on many pairs I haven't had any TS strong momentum signals just yet. This is hardly surprising though as the US were out last night and I suspect that many traders might be waiting until after the ECB meeting and NFP news this Fri. The E/U is looking really exciting though but...remember.... I'm a bit weird .... I'd rather stalk this than go shopping!
Here's what I'm seeing....something big seems to be brewing.....
The indices look like they're still rolling on with some 'risk on' momentum with the USD falling and the Euro rising:
The EURX has now had its first daily candle emerge fully from the Ichimoku cloud...no mean feat at all!
The USDX is well clear of its daily cloud but about to hit the daily 200 EMA. I know this doesn't make much sense at all but the path for the indices is much clearer for 'risk on' movement than for 'risk off':
The EU is still loitering near the major trend line break and previous S/R 1.2622 level. I don't have a TS signal to long here yet though:
The EJ is just riding the channel. I almost have a TS signal to LONG here:
The A/U has fallen this week but it is still in the descending broadening wedge pattern. Interestingly, I didn't get a TS 'SHORT' here:
The A/J is conforming to its trend channel too. No TS signal here yet either:
The G/U is trading 'risk on. No TS signal here though':
The Swissie is down but no TS signal to short yet:
The Loonie is staring over the edge of a huge trend line but no TS signal here yet either:
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