I like thursday for a top. I may be late. I prefer it that way anymore, this daily chart has some bullishness in it. I still think the monthly says something else. And if I want a bearish monthly candle, I want to see a little more upside into the first of the month. I want longs to be trained to buy and hold. I want people to fear not being long overnight into an upside gap. My comment last week was that we needed to go straight up. We've done that.
Check out that daily triangle in the aud/usd. aud/jpy. Not saying we hit that top rail, but what if we do...and will that be the start of the momentum bear from that point?
Just random thoughts i guess. I do like this post and I may be late to this party.
Did you notice how few people were bearish this morning? Tape is still annoying and I expect it to stay that way until August. Tsk tsk to those who faded us...lol
One thing I will never do is chase the tape this month. It's made for fading.
yeah, summer tape is awful, I still rememeber 2009 summer, when i got chopped so meny times. the trick is to pick the right time slots in the session AND stay out (pc off) the rest of the day. At least it works for me :)
No kidding. It's a recipe for emotional trading as it typical gets to your target in the most unusual way.
Okay, just a word of caution to bears. I see a bigger rally soon. I don't know how big it is, but its surprising to see the signs. I covered and I'm watching. The game for me is to see how few trades I can make this summer. If my reading is off, I'm going to miss some serious downside.
I like thursday for a top. I may be late. I prefer it that way anymore, this daily chart has some bullishness in it. I still think the monthly says something else. And if I want a bearish monthly candle, I want to see a little more upside into the first of the month. I want longs to be trained to buy and hold. I want people to fear not being long overnight into an upside gap. My comment last week was that we needed to go straight up. We've done that.
ReplyDeleteCheck out that daily triangle in the aud/usd. aud/jpy. Not saying we hit that top rail, but what if we do...and will that be the start of the momentum bear from that point?
Just random thoughts i guess. I do like this post and I may be late to this party.
SL now set at 1364.25
ReplyDeletecovered 25% at 1353.5, prior to EU open which may give us abounce,
ReplyDeletethis trade is dangerous and require very active managment.
covered remaining at 1357.75
ReplyDeletemay reshort later
okay, today may have done it for now. unfortunately, i see one more rally coming later in the month.
ReplyDeletewhy is a rally later in the month from much lower prices than "right now" unfortunate?
ReplyDeleteIt may not be as low as I was thinking. It could be a retest of this high or a tick over. What I'm saying is, I'm sick of this choppy mess.
Deleteagreed, this tape sucks, it is so fake as it can be. Hope we get a resolution once de EU noise decreases a bit :)
DeleteGL
Did you notice how few people were bearish this morning? Tape is still annoying and I expect it to stay that way until August. Tsk tsk to those who faded us...lol
DeleteOne thing I will never do is chase the tape this month. It's made for fading.
yeah, summer tape is awful, I still rememeber 2009 summer, when i got chopped so meny times.
Deletethe trick is to pick the right time slots in the session AND stay out (pc off) the rest of the day. At least it works for me :)
gl
No kidding. It's a recipe for emotional trading as it typical gets to your target in the most unusual way.
ReplyDeleteOkay, just a word of caution to bears. I see a bigger rally soon. I don't know how big it is, but its surprising to see the signs. I covered and I'm watching. The game for me is to see how few trades I can make this summer. If my reading is off, I'm going to miss some serious downside.
GREAT CALL !! Thanks
Delete