’18 Charts

Eyes on Tech

| 50Pips
“Many can talk the talk but few can translate this into a decent track-record… the basics are, pretty basic but practice is more tricky. If this rings true for you, you might want to focus more on understanding bet size and how that effects the translation of your edge. Obsessing about entry and triggers, all things being equal, is probably the least important aspect yet very few ever get this. Remember that if you get your bet size wrong, you could end up with a negative p&l even with a guaranteed mathematical edge.” – Trading Reflections
Once again, at the risk of sounding like a broken record > eyes on tech. If the big names can’t hold up, then there is very little left to prop up this market that continues to trade heavy with a very different tape than to what we have been witnessing in recent years.
On the DXY side, as we have been highlighting and discussing, the most interesting tactical opportunity seems to be on the aussie for now. After having gone in-depth on the DXY move and what it means for the broader market, in today’s session we will turn our focus focus on yen, swissy and gold.
Regardless of how this plays out, we can’t complain, this continues to be a great market for traders across all asset classes.
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Mid-Week Update

| 50Pips
“You should never confuse inevitable with imminent.” – Rick Rule
As discussed in out latest weekly outlook video, equities are still stuck in these chop zones with the 50/100DMAs capping to the upside and the 200DMA supporting to the downside. Therefore, we’ll just have to be patient and keep an open mind unless we can get some sustained momentum outside of these areas.
Going into today and the FOMC, focus will remain on the same charts we highlighted yesterday: AAPL, DXY and CL.
In today’s session we will go into detail on the current DXY move, what it means for the broader market and how to position around key inflection point in all of the major currency pairs. We have reached some interesting zones…
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Waiting for Apple

| 50Pips
“Traders, when they make profits, have short communications; when they lose they drown you in details, theories, and charts.” – Nassim Nicholas Taleb
Equities are still unable to attract new buyers and the heavy tone inside the choppy ranges continues.
Everyone is going to be waiting for Apple earning to see if they can ramp the market and finally catch a sustained bid. We are still in the ‘as good as it gets for now camp’ and as discussed in out latest weekly outlook video, we’ll be watching very closely for opportunities and focusing of how stocks close post-earnings.
Other key charts that we will be focusing on for today will be DXY and CL.

As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Chart of the Day

| 50Pips
“Successful investing is anticipating the anticipations of others.” – John Maynard Keynes
Nothing much has really changed in terms of the bigger picture and we’ll just let to have to let the dust settle post all the earnings as we move into month end flows.
Here is the chart everyone is going to be focused on today. Remember that the close will be far more important than the open.
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Waiting for ECB

| 50Pips
“Peace ends when you are emotionally involved in a situation. The practice of being an detached observer helps you stay stable and calm. It is the best way to approach a decision in any circumstance.” – bkwsu.org
In case you missed our thoughts for the week > Outlook Video.
Remember that when we have slow data weeks with ECB/BOJ meetings stacked at the back end of the week, the focus is on how we ‘end the week’ not on the action into the meetings. As most reasoned traders will know, there is very little edge in trying to fade drifts into these meeting, especially when the are structural unwinds. Today we will focus on how to position and take advantage of this kind of context.
Here is one of the most important charts on the board (not going to post the chart of the 10 year yield knocking on 3% as everyone is probably sick and tired of seeing it):

As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Chart of the Day

| 50Pips
“The gap between what you say and what you do, between what you promise and what you deliver, is like a drain in the road. The drain is where water escapes, just as your power will seep away if there is a difference between your words and your actions. Ask yourself everyday, were your thoughts, words and actions aligned? Ask someone else what they saw in you too. Feedback is the food of all positive change.” – bkwsu.org
Heads up for a lot of headline risk on Crude today out of the JMMC in Jeddah. No real change to the bigger picture discussed in out latest Weekly Outlook Video.
Remember; Bulls, Bears Make Money, Pigs Get Slaughtered. As we get closer to the end of the April it is important to remember that despite the fact that it has been a very good month so far in terms of setup and opportunities, in the long-run, it pays to stick to the plan and not get distracted by the action. Today’s session will focus on this and managing open positions whilst being aggressive with ‘house money’ without increasing exposure.
We would suggest you also keep a close eye on the whole fixed income complex and take a look at the sustained heavy action on the Shanghai Composite.
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Charts in Focus

| 50Pips
“Challenges are what make life interesting; overcoming them is what makes life meaningful.” – Joshua J. Marine
Bigger picture discussed in out latest Weekly Outlook Video.
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Chart of the Day

| 50Pips
“While there have been some spectacular front-cover traders, the ones who amass fortunes year after year tend to stay in the background. At the very least, they display a simple and down-to-earth approach to markets if they are ever interviewed.” – Clifford Bennett
Bigger picture discussed in out latest Weekly Outlook Video.

As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.

Charts in Focus

| 50Pips
“Stopping out of a position may give the appearance of defeat, but it is not meant to necessarily signal total defeat. While others may see it that way, you must never be fooled. Stopping out of losing positions is the only sure way to maintain survival in difficult conflicts and to achieve the complete victory that is your aim. To learn how to live to fight another day is the best advice that all traders can be given. Not only is it the smart thing to do, but in the long run, the prevention of injury will act as a major building block of total victory. The warrior trader retreats not just to fight another day, but to fight a better day.” – Clifford Bennett
Here are some of the charts we will be discussing today:

As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.