Food for Thought

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Presented Without Commentary

How we look at charts

For newer readers, it’s always worth catching up on our Trading Reflections post.
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.

Mid-Week Update

“My ability to do what is uncomfortable enhances the profitability.” – Richard Driehaus

As we move closer to month and quarter end, our focus across the board remains on the extremes we put in last week. We continue to expect to see a lot of ‘velocity inside range’ and we will not be updating our outlook unless we close outside.
In addition to out lastest video, ICYMI, please check out our: latest blog post with accompanying twitter chart thread.
After yesterday’s detailed outlook video on Crude, subscribers can expect to receive an update on our Tesla strategy along with a bigger picture overview and update on Gold before the end of the week.
Note for active 50Scouts members: *make sure you read out latest update* and keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
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.

Holiday Schedule | Market Updates

Just a quick note to reminder readers that regular ‘blog updates’ will be on hold until the new year.
Please note that sessions for the ‘Daily Webinar Group’ will start again on January 2nd so keep that in mind if you are thinking about subscribing to the service. If you want to subscribe while we are on the holiday break, a recording of our last 5 sessions will be made available to you in order to get you up to speed and keep you busy until we re-start in 2019.
More importantly, if you are interested in subscribing to the ’50 on Markets’ service, please note that it will remain active throughout the holiday period and that we will be releasing a number of key Video Updates before year end.

Out of Office

Just a short post to let everyone know that we’ll be away next week and fully back in action on August 20th.
Our base-case is still that markets are in a choppy topping pattern and are being extremely complacent about Geo-economic / Geo-political risk.
There is a distinct possibility that we may have seen the best data prints of this business cycle and yes, markets continue to be extremely complacent about Geo-economic / Geo-political risk.
The situation in emerging markets is not getting any better and the DXY remains the biggest elephant in the room. In this context and based on recent price action, we still stand by our view that the weekly reversal in USDJPY in July may have rung the warning bell.
We will updated our latest Weekly Outlook when we are back but all in all, no big change.
Please note that any new subscriptions during this period will only be processed on Sunday 19th.
Wishing everyone all the best and see you back soon!

Shape Of My Heart

A slightly different post today…
I recently came across an interview Sting gave about the song ‘Shape of My Heart’ and guess what? Yes, it made me think of trading. It’s interesting that in all these years, the song was release in 1993, I had never made the connection…
Here is what Sting said about the song in a promotional interview:
“I wanted to write about a card player, a gambler who gambles not to win but to try and figure out something; to figure out some kind of mystical logic in luck, or chance; some kind of scientific, almost religious law. So this guy’s a philosopher, he’s not playing for respect and he’s not playing for money, he’s just trying to figure out the law – there has to be some logic to it. He’s a poker player so it’s not easy for him to express his emotions, in fact he doesn’t express anything, he has a mask, and it’s just one mask and it never changes.”
And here are some of the lyrics:
He deals the cards as a meditation
And those he plays never suspect
He doesn’t play for the money he wins
He don’t play for respect
He deals the cards to find the answer
The sacred geometry of chance
The hidden law of a probable outcome
The numbers lead a dance
ENJOY!

EOY Action

As we move into the last trading day before the start of the holiday season, our focus will be on how the weekly candles on the indices close today.
Everyday posts on the blog will resume in 2018 but the twitter feed will remain active. If possible, we’ll try to run some kind of open-access webinar over the holidays, so stay tuned for details here on the blog.
If you are looking to sign up for our Daily Webinar Group, please note that today is the last one for 2017. Daily sessions will resume on January 2nd and the recommendation would be to sign up before then as that is when we go through our year-end review and look at the bigger themes/swings for 2018.
Remember that trading condition can be very thin from hereon into 2018. Usually, you would not expect to see aggressive and sustained action but stranger things have happened…

Floored