Archive
Monthly Archives: June 2011
June 21, 2011
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US Dollar shows weakness as Traders prepare for FOMC and Home Sales Data; Crude Oil rises off recent lows
The overnight session was quiet last night with Greece no longer in the spotlight (for now at least) and the Father’s around the US getting back to the markets after Father’s Day Holiday on Sunday. The US Dollar is on the minds of traders this morning ahead of two very important news events today and […]
Continue reading June 17, 2011
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3 easy clues from Gold, Crude Oil, and Dollar Futures; Day trading OPEX
800am est We being our day with crude oil, checking to see if we have contract rollover. I use the market analyzer to check today’s total volume, and when the 07-11 is less than the 08-11 contract we then roll forward. We will assume Monday (possibly later today) this will occur. 815am est We review […]
Continue reading June 17, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – (CO) Colombia Central bank Interest Rate decision: Expected to raise the Overnight Lending Rate by 25bps to 4.25% – (PE) Peru Central Bank Quarterly Inflation Report – 15:00 (AR) Argentina Q1 Current Account Balance: no est v -$194M prior; Quarterly GDP: no est v 9.2% prior 15:00 (AR) Argentina May Industrial Production […]
Continue reading June 17, 2011
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Here’s how I use the new Trend Channel Drawing Tool from NinjaTrader7
Here’s how to add it to your charts: · Right-click on chart · Drawing objects · Hotkey = ‘trend channel’ (ctrl+2) How to use it: · Find the first trend line that will make your channel high or low. · Go from swing high to swing high or swing low to swing low. · This […]
Continue reading June 17, 2011
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New Deal for Greece sends Euro Climbing, Dollar Drops on Quadruple Witching Day
We begin our day with news overnight that French President Sarkozy has a new deal for Greece that is expected to help avoid a financial crisis. This gave new strength to the Euro, which put downward pressure on the US Dollar index, sending it back into the middle of its range. The US Dollar has […]
Continue reading June 16, 2011
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What a difference a DAY Makes; Easy Price Pattern for Crude Oil Profits
8:00AM est US Dollar Index is trading in a major price wedge on the 89range and in a bullish price channel on the 13range chart this morning. We want to pay attention to the overhead resistance on the dollar looking for when the price reverses and heads back down into the middle. The strong […]
Continue reading June 16, 2011
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Cramer’s view on Greece…what’s next from Europe?
We always love to hear from our friend at Mad Money, Mr. Jim Cramer talks about Greece and how the banks in Europe can overcome this obstacle. What are your thoughts? Post them below and thanks for ‘following’ this blog! Visit msnbc.com for breaking news, world news, and news about the economy
Continue reading June 16, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 11:00 (EU) EU President Van Rompuy speaks at European Policy Centre – 12:30 (EU) ECB’s Mersch speaks at event in Hamburg – 13:00 (EU) ECB’s Constancio speaks in Paris – 13:30 (BR) Brazil May Tax Collections (BRL): 71.1Be v 85.2B prior – 20:00 (EU) ECB’s Trichet speaks in New York 10:30 AM […]
Continue reading June 16, 2011
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Price Structure vs. Price Pattern…Which Is More Important?
Price Structure vs. Price Pattern Price Structure is what the past price action has given us for support/resistance that we will use to look for price patterns. Price patterns are used at the best locations using Price Structure. We use 3 simple but very high % price patterns at the very best locations within the […]
Continue reading June 16, 2011
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My Big Fat Greek debt default; Euro concerns push US Dollar Higher and Drives down Crude Oil Prices
All eyes on Greece, Ireland and Portugal this morning as rumors continue to fly about how on earth these countries will pull out of this tailspin. Traders this morning are calling for the eventual withdrawal from the EU by these countries which is sending markets in Europe lower this morning. This crisis in Europe is […]
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