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Trading For Those With a 9-5 Job

  • #1,561
  • Mar 26, 2012 6:48am Mar 26, 2012 6:48am
Comments on the chart...

Out of my audchf and silver shorts for the moment. Still bearish of both but will look to sell again from higher areas. Risk is on today. Stock markets looking good. Metals rising. Commodities doing well(except sugar at the moment). Come on Greece or Spain you know there is bad news lurking around there...

Olu
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If you think you can or cannot do it you are correct
  • #1,562
  • Edited 7:24am Mar 26, 2012 6:52am | Edited 7:24am
Quoting j4d
Hey Guys,

There might be some consolidation in the JPY ?, After, I fancy more continuation ?

If AUDJPY closes below 85.00 on the daily's it might be a different story.....

Big R's for the week..

Ja.
My thoughts on the Audjpy is as follows:

We will attack 87-88 and then fall into 84 area. And then we might be off to the moon. Why?
I admit here I am influenced by my rudimentary Elliot wave analysis from the daily chart. So I am looking for that reversal near 88.00. China issues have not gone away...

Olu
If you think you can or cannot do it you are correct
  • #1,563
  • Mar 26, 2012 7:35am Mar 26, 2012 7:35am
We have liftoff. Target 1.36 area as per H&S technical targets. Will greece and italy and china issues let it get there?

Olu
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If you think you can or cannot do it you are correct
  • #1,564
  • Mar 26, 2012 10:46am Mar 26, 2012 10:46am
I know. I know. I know. The eternal dollar bull bullish on Gold. Don't blame me I say it the way I see it. And if you read a write-up I made on not getting married to a concept or position you would understand why I am putting this out.

Gold went down and consoludated into a channel. We have a breakout of that channel in a big way today. This baby might be on the way again to 1800. A break of 1720 area where the line is will give more confidence while a retreat back into the channel means it was just a pipe dream.

Olu
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If you think you can or cannot do it you are correct
  • #1,565
  • Mar 28, 2012 8:07am Mar 28, 2012 8:07am
Find uploaded my thoughts about the EurCad. We are nearing the 100sma where as shown the paiir reversed and just bacically collapsed. The stochastics is overbought and has turned but hasnt dropped yet. Note no reversal candles no selling. We cant just sell. This baby can continue upwards. In many ways the eurcad is similar to the eurusd. See a reversal in the eurusd and there goes the eurcad.

We'll see...

Olu
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If you think you can or cannot do it you are correct
  • #1,566
  • Mar 28, 2012 5:01pm Mar 28, 2012 5:01pm
Gold has retreated back into the channel from which it broke out to the upside. Now inside the channel - as shown on the uploaded daily chart things are unclear.

The main trend in this metal is down. There is a massive down candle that forces bearishness. Price is under the 50sma as well. Go with the break out of the channel whichever way it goes particularly the downside break

Olu
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If you think you can or cannot do it you are correct
  • #1,567
  • Mar 29, 2012 1:52am Mar 29, 2012 1:52am
Quoting Olu
My thoughts on the Audjpy is as follows:

We will attack 87-88 and then fall into 84 area. And then we might be off to the moon. Why?
I admit here I am influenced by my rudimentary Elliot wave analysis from the daily chart. So I am looking for that reversal near 88.00. China issues have not gone away...

Olu
We are on the way there...

Olu
If you think you can or cannot do it you are correct
  • #1,568
  • Mar 29, 2012 8:02am Mar 29, 2012 8:02am
Observation on chart
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If you think you can or cannot do it you are correct
  • #1,569
  • Mar 29, 2012 8:03am Mar 29, 2012 8:03am
Just keeping an eye on the eurcad as discussed. I have uploaded a 4h chart. We have:

Bearish stochastic divergence
Indecision/exhaustion candles.
Double top on the 4h chart

A cautious sell can be done below 3320 stop behind the 3320 double top.



If we blow past 3320 then forget it

Olu
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If you think you can or cannot do it you are correct
  • #1,570
  • Mar 31, 2012 8:49pm Mar 31, 2012 8:49pm
Hey 9/5'rs,

Nice set up in live cattle.

25 year extreme highs.

Weekly has broken support. Nice double top.

I posted a CRB index chart awhile back so I have my eye on many commod's.

I have loaded up on cattle puts and now I just wait it out.

Watch the big charts...they never lie.

Risk off is starting to show it's hand.


good hunting,


golfer
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  • #1,571
  • Apr 1, 2012 3:42pm Apr 1, 2012 3:42pm
Quoting golferfx
Hey 9/5'rs,

Nice set up in live cattle.

25 year extreme highs.

Weekly has broken support. Nice double top.

I posted a CRB index chart awhile back so I have my eye on many commod's.

I have loaded up on cattle puts and now I just wait it out.

Watch the big charts...they never lie.

Risk off is starting to show it's hand.


good hunting,


golfer
Hey golfer,

I think risk off is a good call, trading aussy weakness at the moment....

I think there might be more than just corrections in Aud, we shall see...

Ja.
Memories caught in time but never forgotten
  • #1,572
  • Apr 2, 2012 6:10am Apr 2, 2012 6:10am
Quoting golferfx
Hey 9/5'rs,

Nice set up in live cattle.

25 year extreme highs.

Weekly has broken support. Nice double top.

I posted a CRB index chart awhile back so I have my eye on many commod's.

I have loaded up on cattle puts and now I just wait it out.

Watch the big charts...they never lie.

Risk off is starting to show it's hand.


good hunting,


golfer
Thanks for the chart. Nice heads up here.
Guys (9to5ers) let make some commodity pips from this one

Olu
If you think you can or cannot do it you are correct
  • #1,573
  • Apr 2, 2012 6:12am Apr 2, 2012 6:12am
Quoting j4d
Hey golfer,

I think risk off is a good call, trading aussy weakness at the moment....

I think there might be more than just corrections in Aud, we shall see...

Ja.
Thanks j4d for your comments on the thread. I agree whole heartedly...
I am 100% risk off at the moment. The stock marker is struggling. Check out the jpy pairs - all getting to resistance at the moment and turning back.

Olu
If you think you can or cannot do it you are correct
  • #1,574
  • Apr 2, 2012 7:40am Apr 2, 2012 7:40am
Hi Guys

Everything is new! Where are we going this quarter? I believe we will be 'risk off'. This means US$ strength and commodities down. Even usdjpy is showing signs of weakness. The US$ must hold the drawn support lines for this scenario to play out

Big retracements in the jpy pairs. Already bleated enough about audjpy. I dont think this is the end of the retracement yet. There is more to go...

Olu
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If you think you can or cannot do it you are correct
  • #1,575
  • Apr 2, 2012 10:23am Apr 2, 2012 10:23am
Watch Silver Go... If we dont retrace this we have a H&S confirmation with supporting stochastics. I was looking for a breakdown! The market will do what the market will do. We just need to read what music it is playing and dance profitably

Olu
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If you think you can or cannot do it you are correct
  • #1,576
  • Apr 2, 2012 2:20pm Apr 2, 2012 2:20pm
Comments on the chart...
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If you think you can or cannot do it you are correct
  • #1,577
  • Apr 3, 2012 2:05am Apr 3, 2012 2:05am
Comments on the chart...A short around 1.04xx might be worth looking into.

Olu
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If you think you can or cannot do it you are correct
  • #1,578
  • Apr 3, 2012 7:07am Apr 3, 2012 7:07am
Comments on the chart...
Olu
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If you think you can or cannot do it you are correct
  • #1,579
  • Apr 3, 2012 5:39pm Apr 3, 2012 5:39pm
Comments on the chart...

Olu
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If you think you can or cannot do it you are correct
  • #1,580
  • Apr 4, 2012 7:56am Apr 4, 2012 7:56am
Remember my charts a few days ago showing an activated H&S in the silver market? Do you remember the one I posted with 2 H&S patterns battling it out for supremacy. Well it looks like we have a resolution and it is to the downside.

It looks like the QE3 premium is coming out of the commodities.

I got caught as I was shaken out of a good short with a loss only for the market to turn around and dump for 130 silver pips. Most frustrating. That said. It is time to do it all over again with a plan to win. We now have a failed H&S bottom pattern and as I said on this thread/blog sometimes the best trades are failed patterns. Traders rush for the exit when patterns fail making the opposite move strong, emotive and impulsive.

So here we are. Not only have we reversed the up-move we have even broken down below an up trend line in a big way. By the way a good place to put the stop for a this kind of short is above the neckline of the failed pattern. But it is up to you. Do your own d/d.

Olu
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