New Euro Play
Just a quick note to say that there is another good risk play in my opinion formed up in the Euro.
This is a good weak position in the Euro. click on the chart to enlarge for clarity.
In line with my earlier discussions in previous blogs, the longer-term trends are strongly downward in price.
Here is another point with a limited risk to the trade which is the short play of today.
I’ll post more later on about this trade as I monitor it.
Until then, stay tuned. – George
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Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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Another Example of Waiting on Trend
The last trade which we were posting about was the Euro which we’d chosen as an example of how longer-term trend can help us to wait and then position ourselves for good moves in a market.
There’s nothing special about the Euro in this regard.
I just had to pick some market and that was the one that was best positioned to make my point about picking one direction and being patient.
Ignoring the bait, we just choose to wait . . .
Our last posting was right on target as to timing.
The reversal to the upside occurred shortly after the posting of our chart as was expected.
The first blue circle on the left represents where we would have closed out our short position from about 1.3640, so, this would have been a profitable trade.
Once the trend reversal signal was given, one could have taken a long position on the short-term. But, that wasn’t the point I’ve been trying to make in these last examples, so, that signal was ignored for good reason.
The reason was simple: I was not looking for a long position in a weak currency.
Since the daily trend is solidly down, it would be illogical and probably unwise for me to take long signals intraday.
It would just be a matter of time (and probably not much time at that) before the Euro would reassert it’s downward movement.
Well, that’s exactly what happened. Faster than expected, but, expected.
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But, the Euro is only one market of many with great opportunities out there.
The S&P 500, another market of interest
The S&P 500:
The stock market as represented by the S&P 500 has begun to weaken in the last few days.
As this is a short-term trend phenomena, we won’t ascribe too much meaning here.
Yet.
If prices at the end of today are lower than yesterday’s lows, and, if prices close lower than yesterday’s lows, I will take notice of this market more seriously and would expect several day’s of lower swings ahead.
That’s it for now. Have a great day. – George
Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.
The Money Tigers Group © 2011
Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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Euro Fake Out Trade Update
Happy Monday to all.
This is an update of the Euro short trade proposed in our last blog of last evening.
It seems like a good time to update as it appears that this particular trade selection is about to end.
Or, it may not.
That’s really the point of researching and finding the true underlying trend in a market and staying with that trend until the market itself gives signs that it has changed it’s momentum and direction.
Yesterday’s chart when we entered our selection for our hypothetical Euro trade on the short side looked like this:
- This is yesterday’s market pick
The trend soon broke downward as expected from our signal.
We followed with a very shallow trendline indicator which was generated through our Excalibur process.
The shallowness of the line indicated that there was not a lot of selling pressure as yet so, we hold back from moving our stops lower too swiftly in order to give the market some room to swing back and forth in price.
Below is a more recent chart of the Euro.
- Click on charts to enlarge image
While our downtrend is still in operation, the momentum of the market has slowed and looks like it will shift again upward very soon.
Until it actually does though, we stay with our indicator and track it accordingly.
The results of this trade will also be positive profit-wise as our red arrowed line is also our stop to the trade and we’re way ahead of our entry price point (seen in the above chart as the blue circle).
Our results will be posted once the trade is over for members to view on this blog. – George
Ge
Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.
The Money Tigers Group © 2011
Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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Euro Fake Out Trade
Hope you all had a great weekend.
And, now we’re back to the Euro to continue our study of intraday markets and the Euro in particular this evening.
After opening and going upward in price, I stepped back like I described last week to wait for opportunities to arise to go short this market.
You’d think by the way prices went upward after the rate hike on Friday that the European financial crisis was over.
That’s not the way I’m prepared to bet however.
I think this is a Euro fake-out trade designed to trap traders on the wrong side of an upcoming move.
Only an opinion, but, backed up a little by trend change detected at the 15-minute and 30-minute level.
I see and (more importantly) Excalibur (the trading approach we use to evaluate markets) sees another moment of potential weakness just starting.
Here's the 30 minute view as of the posting
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What follows is for MONEY TIGER GROUP MEMBERS EYES ONLY: [Content protected for members only]One of the problems with writing this blog and posting it after working on the charts manually is that I’m a bit behind on the actual trading movement, but, I think it’s important to give you some working examples of how this market could be approached using our method of analysis.
It’s a built-in delay so, by the time this is posted, things may have progressed or been stopped out.
The risk is worth the potential in my opinion on this one, so, let’s see how it progresses throughout the next hours.]
I’ll post again later. – George
Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.
The Money Tigers Group © 2011
Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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