[INTRA-DAY ACTION]
Ok it's 12 hours since that FX trade, and despite closing it this morning I'll start a new intra-day post. Looks like I caught a nice exit on the GBPUSD short, here is the chart, I'm seeing a basing at this price and will look for breaks out of this consolidation range;
I am also watching a descending triangle in the S&P with support at 800. Todays resistance around the 835 mark.
As I said yesterday, today I will be watching CSCO CME NUE X and BAC.
For some entertainment relief, check out this Pantene shampoo advert featuring Mylene Klass, and then for your consideration, Daft Punks 'Aerodynamic' video.
Updates to follow during the day
Update 14:00 (09:00US)
Before the bell we have BAC opening strongly with pre-market prices around $6.50. I will look to enter long at around $6.30 depending on internals and if the 500 breaks this descending triangle. CSCO mid-ranging at $15.85 looking to short or go long at $16 depending on market again. X mid-range, watching the key levels at $32, $29 and $31 here.
EURJPY breaking long from an inverse head and shoulders on the hourly chart. EURUSD hitting resistance around 1.309. 1.38 the key level on GBPUSD today.
Nothing chartworthly until the bell.
Update 14:43 (09:44US)
Strong opening, BAC ripping to $6.83, CSCO at $16.25. All green on the screen. X lagging a little and is approaching $32 into the 09:50 reversal period. Internals weakening. Looking for pullback for entries.
Update 16:00 (11:00US)
Just scalped out a nice trade in BAC. Internals were weakening with bearish continuation patterns while BAC began to top out at gap resistance circa $6.98. I was hesistant to short given it went to highs 3 bars in a row, then came 3 consecutive lower highs and some sellers. Shorted at $6.90 with cover at $6.81 for +$0.09. Nice exit as it has bounced off up there on the 20EMA with internals showing early reversal patterns.
Lots of buyers at $6.84/84 today so watch that level on further pullbacks. Should really have added to my position on double top retest of $6.90 but started blogging instead. Price is now $6.75 so there was more to be made, but I'm happy with the outcome.
Update 16:30 (11:30US)
CSCO hit support and resistance level at $16.50 and has dropped off .20c so far. Missed the trade by focusing too much on BAC. Internally there is an ascending triangle on TRIN with established downtrend in advancers and sellers in the top volume stocks. Which means we will probably see a violent surge or casual decline.
Hesistant to take more positions until the 500 is a little more decisive and some leaders break their consolidation ranges.
EUR showing good strength against JPY and USD.
Update 17:20(12:17US)
Snooze central here. Everything going sideways in 5 cent channels. Will wait for post lunch action. Would like to short CSCO at $16.50 or long at $16.
Listening to 'Mirrored' by Battles this afternoon. Pretty decent elevator/trading music.
Update 18:15(13:15US)
Caught a nice short time trade in CSCO at last. Looked like $6.45 was going to be the best price for a short so filled there with a stop at $6.523. Rode it down to $6.30 intraday support area for an exit of +$0.15.
CSCO has shown great relative strength today, but with severley weakening internals and the rest of the market getting pulled down, it was a nice small risk place to short. Ideally should have held with limit fill at $16.05 but we'll see how the day pans out. Still feels like I'm taking things off the table too quickly.
BAC really struggling here, and I may look for entry at $6.30 long. X now under $30, would like £29 flat for long.
Market normally rallies up/down at 18:30 so waiting for that while listening to Daft Punks Alive 2007 CD loudly and with intent to rave.
I am also watching a descending triangle in the S&P with support at 800. Todays resistance around the 835 mark.
As I said yesterday, today I will be watching CSCO CME NUE X and BAC.For some entertainment relief, check out this Pantene shampoo advert featuring Mylene Klass, and then for your consideration, Daft Punks 'Aerodynamic' video.
Updates to follow during the day
Update 14:00 (09:00US)
Before the bell we have BAC opening strongly with pre-market prices around $6.50. I will look to enter long at around $6.30 depending on internals and if the 500 breaks this descending triangle. CSCO mid-ranging at $15.85 looking to short or go long at $16 depending on market again. X mid-range, watching the key levels at $32, $29 and $31 here.
EURJPY breaking long from an inverse head and shoulders on the hourly chart. EURUSD hitting resistance around 1.309. 1.38 the key level on GBPUSD today.
Nothing chartworthly until the bell.
Update 14:43 (09:44US)
Strong opening, BAC ripping to $6.83, CSCO at $16.25. All green on the screen. X lagging a little and is approaching $32 into the 09:50 reversal period. Internals weakening. Looking for pullback for entries.
Update 16:00 (11:00US)
Just scalped out a nice trade in BAC. Internals were weakening with bearish continuation patterns while BAC began to top out at gap resistance circa $6.98. I was hesistant to short given it went to highs 3 bars in a row, then came 3 consecutive lower highs and some sellers. Shorted at $6.90 with cover at $6.81 for +$0.09. Nice exit as it has bounced off up there on the 20EMA with internals showing early reversal patterns.
Lots of buyers at $6.84/84 today so watch that level on further pullbacks. Should really have added to my position on double top retest of $6.90 but started blogging instead. Price is now $6.75 so there was more to be made, but I'm happy with the outcome.Update 16:30 (11:30US)
CSCO hit support and resistance level at $16.50 and has dropped off .20c so far. Missed the trade by focusing too much on BAC. Internally there is an ascending triangle on TRIN with established downtrend in advancers and sellers in the top volume stocks. Which means we will probably see a violent surge or casual decline.
Hesistant to take more positions until the 500 is a little more decisive and some leaders break their consolidation ranges.
EUR showing good strength against JPY and USD.
Update 17:20(12:17US)
Snooze central here. Everything going sideways in 5 cent channels. Will wait for post lunch action. Would like to short CSCO at $16.50 or long at $16.
Listening to 'Mirrored' by Battles this afternoon. Pretty decent elevator/trading music.
Update 18:15(13:15US)
Caught a nice short time trade in CSCO at last. Looked like $6.45 was going to be the best price for a short so filled there with a stop at $6.523. Rode it down to $6.30 intraday support area for an exit of +$0.15.
CSCO has shown great relative strength today, but with severley weakening internals and the rest of the market getting pulled down, it was a nice small risk place to short. Ideally should have held with limit fill at $16.05 but we'll see how the day pans out. Still feels like I'm taking things off the table too quickly.
BAC really struggling here, and I may look for entry at $6.30 long. X now under $30, would like £29 flat for long.
Market normally rallies up/down at 18:30 so waiting for that while listening to Daft Punks Alive 2007 CD loudly and with intent to rave.
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