Risk 6447... don't trade longs below 6447 today....this is also confirmed with the price trading below the previous 5-day lows and pivots..
Premium report to follow later
US report 12 November part 2
DOW
Overall trend is down, as it heads down into the November lows.
Monday there was no major set-ups other than using previous 5-day lows as trend Guides (previous report)
Early rise from the 5-day lows @ 12993 and back into the previous 5-day lows @ 13158 before reversing back down into the 5-day lows as is follows the overall trend.
At this stage most of the intra-day trading will be the same for day traders as it follows the overall trend of the market and traders have to simply trade on the side of Risk....
Full report later for Tuesday's trading...
EUR/USD 12 november part3
Euro has contined down and still remains below the 3-day cycle break, however is still trading above the weekly 50% level.
A similar expectation after any 3-day cycle break is for the market to rotate back towards the level and test it to verify the breakout.
Traders can exit shorts around today's lows and use the trailing resistance @ 1.4631 as another entry. Or others can continue to hold 'shorts' and use the trailing resistance line as a stop from breakeven entry....
GBP 12 November 2007 part 2
GBP is continuing down and heading straight towards the November 50% levels.
It started with the break of trailing support on Friday, and Monday opening below the 3-day lows. The down trend was then confirmed with the contination below the weekly 50% levels.
There will be counter trend UP moves in the market from lower Daily 'opens' using higher timeframe support zones( November 50% levels), and also because the day after a break of the 3-day cycle there is a high probability that price will try and swing back to the 'breakdown' levels...
Follow previous GBP reports....
EUR/USD 12 November part 2
Euro has continued to move down after the first report, confirmed with the break of the trailing support.
Traders can partial exit around here, and move stops to above the breakout (breakeven stops from entry) with target the Weekly 50% level @ 1.4518
GBP/USD:- GBP has continued down breaking the weekly 50% level. Below this level traders shouldn't look to be trading any longs until the end of the trading day.
Read previous report
US report 12 November
Read US weekly report 10th November…
Expectation markets are heading lower….
Day traders: - Risk levels in both US markets are the 5-day lows…
DOW support 12993:- if below expectation that it’s heading down into the next 5-day lows and same applies with ES….
Expectation markets are heading lower….
Day traders: - Risk levels in both US markets are the 5-day lows…
DOW support 12993:- if below expectation that it’s heading down into the next 5-day lows and same applies with ES….
ES support 1442
I do expect a counter-trend move in US markets upwards this week, but at this stage intra-day cycles are still a ‘sell’ and Day-traders should use the previous 5-day lows as Risk levels for Monday’s trading..
No major trading set-up for Monday’s trading other than trading on the side of Risk, and look for 95 point swings in the market for trading exits in the DOW....
I do expect a counter-trend move in US markets upwards this week, but at this stage intra-day cycles are still a ‘sell’ and Day-traders should use the previous 5-day lows as Risk levels for Monday’s trading..
No major trading set-up for Monday’s trading other than trading on the side of Risk, and look for 95 point swings in the market for trading exits in the DOW....
EUR/USD 12 November
Euro breaking support and now it needs to break the 3-day lows to follow a similar path as GBP….
Don’t be looking for longs below 1.4634, especially if it cracks those 3-day lows…..
Don’t be looking for longs below 1.4634, especially if it cracks those 3-day lows…..
Read previous report….
GBP/USD 12 November 2007
GBP/USD broke trailing support on Friday and headed down into the 3-day lows, and are now currently below those 3-day lows…
The critical level in any major trend reversal from November highs is the Weekly 50% levels….
Don’t trade longs below those 50% levels, and it’s a bit early to be looking for a 2-day up move from these levels without confirming intra-day cycles
Read previous report….
The critical level in any major trend reversal from November highs is the Weekly 50% levels….
Don’t trade longs below those 50% levels, and it’s a bit early to be looking for a 2-day up move from these levels without confirming intra-day cycles
Read previous report….
SPI 12th November part 4
2:40pm
SPI completed the rotation back into 6506 and continued with the trend down following the 5-day dynamics and into the lower pivots.
Overall expectation of price heading back into the November 50% levels.....
SPI trading 12th November part3
12:20pm
SPI moved up from open hitting the previous pivot @ 6577 and rotating down into another 44 point range where buying support has come into the market on the 44 lows…
Expectation is for the 6506 to complete, but as the morning report suggests today could consolidate and swing in 44 point ranges whilst trading above 6506….
Subscribe to:
Posts (Atom)
Posts
