Friday, February 14, 2014

Trading Week 10/02/14 (7)

Friday 14th Jan (7.50 pm)
Cable: My TS signal is powering along now. The monthly 200 EMA is a major S/R level though and may give price some grief BUT any close and hold above this key level into next week may offer a new trade entry opportunity here:

E/U: I'm watching for any 4 hr candle close above the 1.37:

Silver: powering along too and above the $20.50 S/R level:

Gold: So, after all the bullish signals discussed in my w/e blog update last week, (inverse H&S, monthly 'railway track' and weekly 'railway track' patterns), the metal is up about $42 so far this week! This makes me rather gold stock trades are doing well.

Friday 14th Jan (6.05 pm)
E/U: I mentioned earlier how I missed this 11 am candle TS signal due to doctors etc. I also mentioned I'd wait for any close above the 1.37 level. Some positive EUR data has price moving up that way now. Keep an eye on it:

Cable: not looking down and out just yet:

AUD/NZD: this still has me eye too:

Silver and Gold: both are still drifting higher after making a 4 hr candle close above reistance:

Friday 14th Jan (5.25 pm)
S&P500: this was how my daily chart finished up. No new TS signal yet. The H&S is looking less likely and would be very wonky, even price did roll over on Friday. I suppose the next thing to look for might be a possible 'triple top'!

Friday 14th Jan (3.30 pm)
Indices: the USDX is struggling to hold above more recent support in the form of a daily bull trend line. The EURX is struggling to get over the resistance of the monthly  200 EMA:
USDX 4 hr:
USDX daily:
EURX 4 hr:

Silver and Gold: both of these have kept marching and have now climbed above over their resistance hurdles. Check to see where they close for the week though before getting too excited:

Silver: above the $20.50:
Gold above the $1,300:

Open TS signal: just the Cable now and it is holding it together for now just under the key monthly 200 EMA:

Cable: I'm aware that some traders have jumped in to short here. Personally, I do see some hesitation here BUT I don't see confirmation of any rejection just yet.

U/J: now this falls!!!!

E/U: I misses a very weak 'long' signal here earlier today. I've been at the doctors and XRay all morning with collapsed lung Gen Z son. Oh joy. I would not long here though at all unless price closes and holds above the 1.37 level. The 4hr chart shows just how significant this 1.37 level has been over recent weeks:

Friday 14th Jan (6.45 am) John Lennon features here today!
Indices: The USDX has tumbled overnight and has fallen below the support of the weekly 200 EMA. Some weak US data may have folks thinking that the US taper of QE might be more protracted than first thought:
USDX 4hr:

USDX daily: a daily support trend line is being tested:

EURX 4 hr: As with the E/U, I've relaxed the upper trend line to capture latest resistance. The EURX is making up its mind what to do now that it finds itself back at the S/R level of the monthly 200 EMA: 

EURX daily: 

Indices and Ichimoku Cloud: the indecision and choppiness seen in the charts above makes sense when the Cloud charts are assessed.

USDX: below the Cloud on the 4 hr and in the Cloud, albeit only thin Cloud, on the daily. Looking like a bearish shift:

EURX : above the Cloud on the 4hr and below the Cloud on the daily:

Winners: Gold and Silver continue to shine given this recent bout of USD weakness. Any continued USD weakness should help them to break above their respective resistance hurdles. Make sure to note where these two close off for the week; any close, and then hold, above these levels would be bullish for the metals: 

Silver: looks like it might try to take on the resistance of the $20.50 level:

Gold: The bullish 'inverse H&S' is still unfolding here and Gold's next hurdle is the $1,300 level. A whole number and psychological level as well as being the 50% fib pull back point of the last bull move: 

S&P500: It was a bit of a 'Go figure' night for stocks. It seems to be a case of 'bad news' being 'good news'! The weaker US data gave a boost to stocks. I can only assume that stock markets think that QE will be here for a bit longer than first thought. Others are dismissing the weak data as an aberration due to bad weather. Either way...strange......John Lennon was spot on.....Strange days indeed!

30 min:

BTW: I haven't had any recent emails from the 'Henny Penny' dude about the 'stocks sky falling in'. Seems to have gone quiet there now.

I'm watching for any break up and out of the Ichimoku Cloud, any hold above the $1,800 level (as this would void the H&S pattern) and for any new TS signal and Ichimoku signal here:


TS Signals: This choppiness across the Indices has fed into the latest TS signals; an event that is not uncommon!

Cable: still going strong but has paused under the key resistance of the monthly 200 EMA:

A/J: -70 and closed

U/J: -40 and closed:

GBP/AUD: -100 and closed. I had warned against this signal though:

E/U: testing trend line support. It seems to be enjoying life at the expense of USD misery:

E/J: looking bullish again too. I took 100 pips from this earlier signal and will look to get in again on any new TS signal: 

A/U: messy but Chinese data out later today may offer some direction here:

Kiwi: looks like it's marching up to test a resistance trend line: 

AUD/NZD: still hovering above the key support level of 1.075. The bullish 'inverse H&S' pattern could still be brewing here though. A clear break below the 1.075 would most likely void this though: 
A/N 4 hr:
A/N daily:

Strange days indeed

No comments:

Post a Comment