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

A reminder: These posts are for educational purposes only concerning my own private methods of analysis and are not recommendations or advice to buy or sell or to really do anything except to observe, along with me the rhythm of market price movements and try to align ourselves with them.

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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.

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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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