Metals breaking out topside

Silver leading the pack..

Usd/Cad 4Hrly SHS

 SHS - Head and Shoulder pattern on the 4hrly timeframe.  Usd/Cad has now broken under strong support at 0.9829 after breaking the SHS neckline at 0.9852 and has been in a sideways consolidation pattern under that resistance for the past day. The measured move would target 0.9667.

QE3 for Europe ! Who wudda thunk it

News out regarding swap lines between  BoE, BoJ, ECB, SNB and Fed...    Basically we have reached Defcon 1 as far as liquidity in the European Banking sector is concerned thus the Fed is basically flooding the Eurozone with Dollar liquidity.

Immediately, the Dollar is diving against everything except metals. Stocks are running higher with European Banking stocks skyrocketing.

The biggest question is whether the market will now realise that indeed we have been sailing along a knifes edge and whether this action is in fact the preparation  before a Greek Default ?  What will be the effects of such an event on the other PIIGS especially the two 600 lb. gorillas in the room Italy and Spain ?

Whatever the coming events, this is not a market for the faint hearted nor the inexperienced.

Good Luck, and keep it tight.

Stock Indexes

Two horrible choppy days but are we finally getting to an area to re short.  The two to watch are the Dax which has been leading the pack and the Nasdaq.   Measured moves have been now completed basis the 4 hrly moves and we are getting onto channel and fib extension areas.

 

AudUsd

The Head and Shoulder pattern completed almost perfectly. Currently seeing a nice bounce out of the 1.0190 area.
http://screencast.com/t/GwVFGAvxZGEV

Aud/Usd 240 minute chart

On this day

It would be remiss of me not to say a few words about this day so so many years ago.
Our world changed forever.. If your a tinfoil hat wearer, then you know. If you dont believe in the conjecture surrounding 9/11 then I also understand.

But people lost their lives, wives lost husbands, husbands lost wives, children and grandchildren lost fathers and grandfathers, mothers and grandmothers...

Take a moment out of your day to think of the lost and for those that lost.
 
Humanity is all we really have. Tell those that you love, that you love them, each and every single day. Whether your Cristian, Jew, Muslim, Budist, Taoist.. what ever your faith.. Give thanks for the loved ones that surround you and those that fill your life with purpose and joy... even those that torment you.

Just a thought!

Ok lets give this a go again

Given the massive amount of intervention in various forms in these currencies I have pretty much just traded Stock Indexes, Crude Oil and one or two currency pairs.. Namely Aud, Kiwi and Euro...

 The rest are just too hard right here. Swiss / anything I have completely removed from my charts for the wee while as they are way way too open to spoofs. Yen pairs a little less so, but the risk reward profile also is just not there to bother risking your capital.

Right here, we are on the brink of some vey very serious stuff. As those that I speak to and advise on a daily basis know, I am expecting a major rise in the USD to commence. Stock Indexes to revisit 2008 lows and commodities to drop.

Ok lets start with Crude Oil - Hourly Chart -  Thus far we are retracing / copying the move of September 1-2-5.

OK Ill be trying to post everything I am looking at this week

Stocks have almost met their daily targets of - 1274.25 ES, 12003 YM and 2220 for the EQ. AudNzd is sinking further so all is good.  Will try and keep the Blog updated on a daily basis with all of the trades except the scalp trades on the ES, trading  a  new 5 minute setup today almost killed me but was quite  good. Ill share the setup tom.

Well Im back

After many months of toil, struggle n personal hell.... The ship has righted herself n we are ready to set sail....  Chart setup is pretty basic - Hourly candles , a 34 or 55 ema depending on the pair, daily pivots, slow stoch 11,3,5 and MACD standard or 3,11,5.  Basically  its  pretty  simple.  Draw  ur  resistance and support , draw your fibo points ..  if  we  are  overbought on  the  stoch n macd , res has  stopped us  then  sell.....  pretty  easy.   But  I  do  use  alot of  correlations. Gold, Silver, Stocks and of course the numerous crosses. 

Well its the middle on Jan...

Still plugging away. The moving averages have proven to work well when trends get going and have yielded very good runs...heres the BUT.... as always  the chop around the moving averages and the indicators just didnt cut it and as a result the system just didnt hold up to my expectations. It became cumbersome and awkward... Far from the simplification tht I was seeking.

Ive gone back to the drawing board exploring other options enabling me to combine one system across various timeframes then finding the right EA to manage the open and pendings... It all takes  time, so bare with me.

Ive left the publisher attached to the demo account which I use to construct various ideas and systems so you can see where stuff is  happning. Dont follow it as far as trading goes for God,s sake.. It is there as information only.