Chart of the Day

“The true test of character is not how much we know how to do, but how we behave when we don’t know what to do.” – John Holt

Today’s focus will be on a detailed discussion and updated outlook on EURUSD.
ICYMI; no change to our current thinking.
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Wishing you a great day ahead.

Chart of the Day

“Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, and not just any baby antelope, but preferable one that is also sick or lame. Only then, when there is no chance it can lose its prey, does it attack. That to me, is the epitome of professional trading.” – Mark Weinstein

The Russell remains our control chart with respect to the indices and in today’s session we are going to focus on why this continues to be the case, managing out current positions and new opportunities that are setting up.
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Wishing you a great day ahead.

Post FOMC

We would like to stress the importance of what we discussed yesterday. Remember that the focus now shifts to how price will settle into the end of the week. Our base-case scenario remains for a weaker USD and for equities to soften into the end of the month.
As already pointed out, we would be keeping a very close eye on the weekly charts, not only to see if we do indeed get negative closes but especially to highlight the key dynamics that are playing out at pivotal levels. We will review and discuss this again in today’s webinar as it is crucial to understand what is playing out here.
Remember to keep an eye on Crude around the 60 mark and on action in XLU, IYT and XLF. We can’t stress enough how important it is to understand these charts and keep them on your radar.
ICYMI and you would like a little bit more flavor on our thinking, you can always check our: Latest Outlook Video.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.

Into FOMC

“Change happens in an instant. It happens the moment you DECIDE to change.” – Allyson Lewis

Today will be a key day for our Charts of the Week.
remember that the day really starts post fomc and what matters is how we settle after 24/48h. so yes, that means it’s about the weekly close. However, having said that, the market reaction will be key, especially in the light of the dynamics we saw in play yesterday.
Here are some additional charts that we feel should be on your radar:
ICYMI, here is our latest Outlook Video:
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Wishing you a great day ahead.

Charts of the Week

“As a trader, you have to decide what is more important-being right or making money-because the two are not always compatible or consistent with one another” – Mark Douglas

If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.

Quad-Witching Friday

“In many ways the technical analyst is like a hunter tracking game, understanding that investors leave footprints, and those footprints are visible through the price patterns, volume flows, and other data presented in the charts.” – Jeff deGraaf

No change to what we discussed yesterday as we remain at key inflection points across the board. our main focus will be on how prices close for the week and set-up for the remainder of the month. We expect to see volatility pick up once we get through Quad-Witching and will be reviewing current setups and what we expect to be the next swing moves in today’s webinar.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.

Chart of the Day

“As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It’s like crime without punishment or sex without sin.” – Ron Chernow

We’ll stick with our call that the bulk of the Friday bottom and ramp into Quad-Witching was going to be done by close of business yesterday. Naturally, this could continue to ramp but our base-case is that there is little edge chasing this after this +5% squeeze. EYES on how we trade around this 78.6% level on the NQ.
As always heads-up for more headlines risk out of Washington, CHina, London, Boeing and OPEc.
If you missed out latest thinking, you can always catch up on it > HERE.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.

Chart of the Day

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” – Charles MacKay

As usual, we will be opening up free access to out latest Weekly Outlook Video tomorrow but in the meantime, don’t forget to keep an eye on Boeing; one of the Poster Children of the seemingly endless ramp. Caveat Emptor…
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.

Into NFP

“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

A lot of key developments as we move into NFP and the end of the week. Among many things to focus on: Indices closes around our key pivotal levels and the 200DMAs, Euro close above/below the 1.12 mark and the overall change of pace. Don’t forget we have Opex next week but more on that in due time…
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.