There was a couple of other nice technical setups on UCAD and ENZD today too, but only other trade for me was a more discretionary trade based on technicals and fundamentals on UJ.
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DislikedCouple of setups on the watchlist...
Also closely looking at Gold, Silver, Oil, S&P.Ignored
Dislikedi see the reversal..
js watching...if price reach 61.8 Fib(77.00)
good for short eh?Ignored
DislikedHi LJ,
Thanks for this wonderful thread. I have noticed something interesting and wanted to share it here. Attached charts are Weekly S&P 500 comparison of 2008 (before and after recession) and current charts. Both chart patterns looks pretty similar and if it continues that way in next few weeks, we are in for a real down ride. Failure of retest of 1250 will confirm the next down move.
What's your expert opinion on this.
Thanks
AlifariIgnored
DislikedLooks good to me as does AJ @ 78.
If CJ decided to come down from here then a return to the intra-day congestion could be a good setup - as long as the market is moving in an orderly fashion of course - watch the risk aversion!Ignored
DislikedA simple intra-day confluenced touch trade...straight to first trouble area.
By itself it's a good setup...but what if you go further than that and look at what other correlated FX pairs are doing and go further still and look at what inter-market correlated assets are doing ...Ignored
Disliked...First start with by looking at the location of other Yen majors, here's a couple.Ignored
DislikedSo we have FTB setups...good setups in their own right, but the fact that the Yen majors all have similar setups is correlated confluence.
But, we can go further than that...
We also know that USD and JPY pairs tend to move together when the main market driver is risk sentiment ... if you've been awake for the last couple of weeks you should be able to realise that this is exactly what is driving the market...and when this happen the market becomes very predictable (i.e. what rises and falls together in times of risk appetite and risk...Ignored
DislikedHmmm they are both at support - decent FTB setups again.
So what about the inter-market relationships...Ignored
DislikedA simple intra-day confluenced touch trade...straight to first trouble area.
By itself it's a good setup...but what if you go further than that and look at what other correlated FX pairs are doing and go further still and look at what inter-market correlated assets are doing ...Ignored