[INTRA-DAY ACTION]
Just back from college. Looks like there were some excellent trades today. Just closed HD at $18.06 for +$300. Was working with limits and stops on this one, it jumped at open as predicted yesterday but has since sold off after a great signal to short at $18.80 earlier.
RIG has suffered a similar fate by restesting a support range as resistance and I would avoid a long in that right now.
USD/JPY fell hard out of yesterdays ascending wedge into the close with a nice retest on a dead cross and has fallen to a support area. Overhead is 98.50 with support at 98 for now so watch for signals accordingly.
Oil doing much the same with a top out yesterday as predicted. Has fallen to support range at 43.5 and has formed a short term head and shoulders formation. Would like to see this under and retesting 43.5 for a short entry as I am not looking to take a long here at the moment either.
Intra-day I'm watching X with a descnding triangle with support at $17.50 and it looks bad there.
It's been a good couple of days for technical analysis and low risk high reward setups. These happen every now and then so I have to anticipate that these setups will phase out this week and the market will revert to choppyness. Not watching anything else at the moment and I'm off to the gym.
Update 20:00GMT
RIG flag really following through. Measured move says a drop under $50 coming.
X looking weak. HD forming a base at $18. STLD looks good for low risk entry here at $8 for quick scalp. Something dodgy over at JBLU too.
RIG has suffered a similar fate by restesting a support range as resistance and I would avoid a long in that right now.
USD/JPY fell hard out of yesterdays ascending wedge into the close with a nice retest on a dead cross and has fallen to a support area. Overhead is 98.50 with support at 98 for now so watch for signals accordingly.
Oil doing much the same with a top out yesterday as predicted. Has fallen to support range at 43.5 and has formed a short term head and shoulders formation. Would like to see this under and retesting 43.5 for a short entry as I am not looking to take a long here at the moment either.
Intra-day I'm watching X with a descnding triangle with support at $17.50 and it looks bad there.
It's been a good couple of days for technical analysis and low risk high reward setups. These happen every now and then so I have to anticipate that these setups will phase out this week and the market will revert to choppyness. Not watching anything else at the moment and I'm off to the gym.
Update 20:00GMT
RIG flag really following through. Measured move says a drop under $50 coming.
X looking weak. HD forming a base at $18. STLD looks good for low risk entry here at $8 for quick scalp. Something dodgy over at JBLU too.
0 comments:
Post a Comment