FX Overview

“Tell a man there are 300 billion stars in the universe and he’ll believe you. Tell him a bench has wet paint on it and he’ll have to touch it to be sure.” – Murphy’s Law
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.

Forex Overview

READINESS: A knife keeps its edge, Only with honing and proper cutting. A warrior’s virtue is readiness. A sage’s virtue is awareness.
This life is so competitive and challenging that one must remain in constant readiness for the problems and conflicts that come with each day. That is why followers of Tao meld the way of the warrior and the sage. They want the courage and preparedness of the fighter, the luminous perception of the wise. Each day, they dedicate themselves to maintaining their characters and perpetuating their development. But how does one maintain one’s edge without blunting?
There is a fable about a king who was watching his butcher. He was amazed that the man could dismember a whole ox without much effort and without dulling his knife. Seeking to learn, the king questioned his servant, who said that his secret was to insert his knife only in the spaces between muscles, thus parting the body along its natural lines. In this way, where an ordinary butcher had to grind his blade daily, he only had to sharpen his knife once a year.
From this we can learn that we must first hone ourselves to a sharp edge, but the proper use of our talents is equally essential. We must remember to take action along the basic lines and seams of the day. If we do this, we can never be opposed for long.
365 Tao: Daily Meditations
Deng Ming-Dao
If you missed our latest video update, you can access it here > weekly outlook video.

Reminder if you are interested in the Foundational Webinar Series > New Session.
Note for active 50Scouts members: make sure you keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
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.

On the Radar

“You can never make the same mistake twice because the second time you make it, it’s not a mistake, it’s a choice.” – Steven Denn
Luckily yesterday was not disappointing. As you can expect, it’s all about follow-through now. We’ll also have to see if indeed, as per recent reports, pensions will need to re-balance through selling an unusually high $12 billion of U.S. equities.
Keep inn mind that we still have a lot of headline risk from Davos today. Here are some of the key charts we will be reviewing in detail during our webinar:

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.
If you are struggling or looking to speed up your learning curve, you might be interested in our Foundational Webinar Series.
Wishing you a great day ahead.

Chart of the Day

“The grass is greener where you water it.” – Neil Barringham
Key test for EURUSD into CPI and NFP today. We’ll discuss the weekly close and the implications for short and long-term cycles in our next 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.
If you are struggling or looking to speed up your learning curve, you might be interested in our Foundational Webinar Series.
Wishing you a great day ahead.

Supporting Charts

“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William J. O’Neil
Here are some of the charts we discussed in our latest 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.

Chart Overview

“In my experience, I have to say that there was very little critical difference between the net winning traders and the net losing traders in most areas. All of them had good understanding of the basic market fundamentals, used a solid technical analysis or research of some kind, and exercised a lot of personal discipline. The one thing that stood out, the one thing that separated the net winner from the net loser, all things being equal, was that the net winner had a trading plan in addition to his other skills. The net winner knew he was up against not just the market and his competitors, but he was up against himself, too. To guard against the possibility that he (the trader) could blow himself out of the water at any time if he wasn’t careful, that trader had a plan.” – Jason Alan Jankovsky
If you missed it, don’t forget to take a look at our latest weekly outlook video.
He are some of the charts we are going to be reviewing 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.

Chart Book

“To only praise your success and fail to learn from your mistakes , separates the educated amateur from the professional.” – Bruce Lee
Here is a short selection of some of the charts that we will be going through today…
Look at the last 6 days in DXY; indeed, much to do about nothing. The jury is still out:
The sideways chop and market looking for direction is even clearer if you look at EURUSD on both the Daily and Week and see how it is hovering around a key pivotal level:
Focus is going to be on Apple at the open. It held the 156.50s and has broken to new highs. As long as we can’t get back below the 165 mark it is hard to see how the market is going to really roll-over:
Eyes on Crude. Still stuck around the key 55 pivotal level and what looked like a decent chance for a reversal is currently having trouble thanks to the continuing Venezuela drama:
Facebook needs to hold above the 175.50s or things could get a bit ugly:
RUT still doing the best job at resisting the endless ramps:
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.

Still Waiting

“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.” – Abraham Lincoln
No change in outlook as the market continues to pick up pennies in front of a steamroller into earnings. Here are updated charts on some of the key moves we have been discussing:
In case you missed it, here is our Latest Outlook Video for the week ahead.
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.

Calm Before Storm

“If you calmly observe, you will more clearly see situations for what they really are.” – Brahma Kumaris
As equities continue to press higher and as we go into NFP ahead of the now usual weekend risk (North Korean, Catalonia, Iran, etc…) President Trump made some elusive comments on about the fact that “Maybe it’s the calm before the storm”. Hmmmm, Interesting… as we said before, unless we something ‘happen or change’, there is very little on the calendar in term of potential catalyst until the next ECB meeting on October 26th.
Here are some of the charts we will be discussing and focusing on 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.