Category: Trades

The New Zealand dollar is very close to breaking major support. I will be looking to trade this if it breaks down. I will also take the trade on the long side if it breaks resistance at .74 on the upside. Just waiting for a break in either direction.

Lean hogs are still completing the multi year H&S bottom. I will take the trade when it clearly breaks 88 on the weekly chart.

Although from a fundamental perspective I believe stocks are going higher, I do not let it impact my trading plan in the futures market.
Presented below is a possible H&S top forming in the Nasdaq.

H&S tops and bottoms are one of the most reliable trades in my experience. Even more reliable is the failed H&S pattern. A failed H&S top would be if the Nasdaq touches the 6400 level and turns back from it and takes out the right shoulder. Failed H&S tops and bottoms are the most profitable 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.