Category: Trades

Here are some of the trades I see setting up.
First, the Japan stock market. It appears to be making a H&S pattern. A break above 23000 will be bullish and I will go long.

The German stock market appears to be making a H&S top or a failed H&S top.

The 30 year bond market appears to be making a massive H&S bottom.

The USD appears to want to continue its run higher. A strong break above 95 I will go long.

As the USD so goes the EUR. A break in either direction out of this rectangle I will take the trade.

For the record, lumber appears to have had a blow off top. I do not trade these patters in general. These moves tend to retrace their entire run. This would bring lumber back to 2016 low.

The USD is about to break out from its ascending triangle.
A weekly close above 95 I will be going long.

There are two new trades I will be opening up Sunday night.
The first is the SP500.

It made a daily closing not seen in 4 months. It did not break out on the upside how I would have liked it, but it made 3 touches on the ascending triangle. It broke the resistance on the fourth and closed above the resistance. These are bullish developments. It looks like it wants to challenge its all time high.
Target is 2900 for now. Place your stop at 2773.5. This is a very tight stop and I run the risk of getting whipped out of the trade.

The second is the New Zealand Dollar.

It broke down from its rectangle formation. Just like the SP500, it did not break the support hard. However I will take the trade anyway.
Target is 0.6250. Place stop at 0.6845.

I indicated here that platinum would be a good candidate for a short if it broke down from its rectangle formation. It broke down and reached its target of 800 very quickly. Looks like some one ran the stops. Unfortunately, I was on vacation and missed this trade. Hopefully you got it.

NASDAQ position got stopped out here and as shown below:

I should have left at least one contract stop out at the break even point and let some profits run.

It is now going toward its target of 7500.
File under: Left money on the table.

Gold broke down from its rectangle formation. I indicated here it looked like gold would retest the $1240 low. The trade fit my plan. I hesitated to short gold here and missed out on big profits. From my experience, it looked like a bear trap.

I am going to step out on a ledge here and call a bottom that can be traded.
Far to many traders have became bearish. The masses love to sell into the panic. Being profitable usually means being in the minority.

Momentum indicators are showing a bounce is due. I think the bottom is close.
I went long at 1248.80.

NASDAQ trade got stopped out at 7100 for a nice profit. See here.

The Pound reached its target of 1.32. The double top has completed its pattern.

First took the NASDAQ long position here. Details along the way are here and here. Now is the time to move the stops up and lock in a profit.

Move stop up to 7100. I will exit trade at 7500, although it measures to 8000 I will be sitting on 10K profit per contract and I wont be able to resist to exit.

Here is where I see potential trade setups.
The German stock index DAX might be making a H&S top or, even better, a failed H&S top.

The Aussie Dollar is in a rectangle formation. I will take a trade if it breaks out in either direction.

The New Zealand Dollar, which we made a nice profit shorting not to long ago, is in a rectangle formation on the weekly chart. I will take a trade if it breaks out in either direction.

Lean Hogs is still making a massive H&S bottom. My only issue with lean hogs is it loves to gap up and down. This could cause sleepless nights for you.

Finally, I present to you the most boring market in the world. The grain market.

It has been a long time since any of the grain markets have made any chart formations.