EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields - Details in video description.
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Gold is at cross roads - could fail and go down and could also shoot up- though it is in an uptrend for the last week or so. I would suggest you do not trade gold till you have researched the charts and paper traded for atleast a month.
Good luck
whichever way it breaks get confirmation from EURUSD.
the other guy you want to check out ishttp://twitter.com/steenbab - he is excellent on trading psychology and his blog is filled with a million gems - he trades the emini - and posts daily with links to some very informative blogs. here is one from yesterday http://traderfeed.blogspot.com/2010/02/stop-loss-points-in-trading-do-we-need.html
and the beauty of these two guys like Ashraf is: they are free
Purely technical reasons. both usdjpy and the nikkei are very close to key resistance zones. 10750 on Nikkei and 92.3 on usdjpy. also based on COT data traders are close to being as short on the Yen as they have been over the last year.
but best to be very nimble over the next 2 to 3 weeks as these resistance zones may be breached. i will go short only on confirmation of a trend change on both.
weekly charts on the usdjpy show the down channel is still intact
just wait till Jan 9 for the next NFP if it is a "major" disappointment - USD will violently move down - the drop of nearly 1000 pips (in EURUSD) will be made up in half the time it has taken to go down. however if jobs start getting added - then USD might rally some more and then settle into a range for sometime - what that level will be I don't know - maybe EUR at 1.35 to 1.38.
just because the move to USD as a safe haven happened in the last equity crash, is no assurance it will happen again. but i am no expert - and if one is sure of a deeper dip next year and operates in a longer time horizon - then trade it.
esoteric economic theories are not tradeable to make money regularly.
Look at the chart - gold has been on a 4 - 5 week cycle moving upwards. If that had to play in Nov. also - Gold should have peaked at about 1120 and dipped to about 1080, before resuming its uptrend. But then things normally don't happen as they are supposed to, otherwise 90% of traders would not lose money.
In the last few days the move has been almost parabolic - it has clearly broken upwards of the rising trend line. Now, this could mean the last gasp buying of a rally about to reverse. Paulson - the hedge fund guy - has also come out today claiming he has invested $250M of his own money in a Gold fund.
Overall I think we are topping at 1150 - but stranger things have happened.
I would not recommend to keep shorting to hopefully average out - unless u have a lot of funds you are comfortable risking.
Good luck