Category: Trades

Crude oil is trending to its destination. I will exit the trade at 72.

The Feeder Cattle position got stopped out. The market retested the resistance but happen to touch my stop. My only regret on this trade was not moving my stop to 135. I like to break even when the trade moves 25% in my direction. It went 50% of the way there and I did not move my stop.

The British Pound looks set to complete its cup and handle pattern.

Went long crude oil at 66.70. See here. Place stop at 65.00

On my radar this morning is crude oil.

Ascending triangles are one of my favorite trades. Moving averages are in alignment. MACD has a bullish crossover. I am looking for a clear daily closing above the inter-day high made in march.
On the longer term chart, we see it is about to make a 4.5 year high. For some reason, the algorithms love it when a market makes a fresh high not seen in many years.

Although I trade futures purely from a technical viewpoint, I can not help notice the fundamentals that will drive oil prices higher.
Unease in the middle east (what else is new?) .
Saudi Arabia stated that they are aiming for $80 a barrel for the Armaco IPO.
We will wait for confirmation before going long.

I have a wait and see attitude toward this gold rally. My personnel opinion is it will bust through 1360-1380 this time. However, I don’t trade on opinion. I will wait and see if it breaks resistance or turns away.

Update to Will the Low Hold?
Bitcoin is approaching the low made in February.

Looking at the chart, this seems to be the panic level. Lots of speculators will flood the market with sell orders if this support gives away.

Update on the gold market.
Gold looks set to break out from its multi-headed bottom.

It must break 1380 forcefully in order for me to take this trade. Once it breaks out, there is not much resistance until $1580.
Another reason why I think it is going to break out is because on the daily chart it broke out of a bull flag.
In my experience, these smaller daily patterns are used to launch the bigger weekly patterns.

Our position in the Yen finally began to move.

The Nikkei broke down.

Feeder cattle broke down today.

Place stop at 142.
I can’t resist making this trade. It broke down on the daily and weekly chart.
I’ll sleep when I’m dead.