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 […]
Continue reading June 15, 2011
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Crude Oil Revenge Trade cost me 50 ticks, don’t make this mistake tomorrow
We begin our day with the US Dollar Index, which is seeing lots of buyers this morning after news out of Europe contributed to the fear of buying the Euro. Our 13range chart shows the strong bull price channel, which tells us price should be rising today. However, we also know that we are at […]
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Saudi’s swapping Crude Oil with United States?
Have you seen this yet? I heard rumors that the Saudi’s had ‘poor’ quality crude and they are trying to swap it out with some ‘better’ quality. Love your opinions on this…anyone have any thoughts? post em below. Visit msnbc.com for breaking news, world news, and news about the economy
Continue reading June 15, 2011
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Trade the News Market Internals Update
Dow -74 S&P -9 NASDAQ -18 ***Looking Ahead*** – (RU) Russia May Producer Prices M/M: % v 1.5%e v 2.0% prior; Y/Y: 19.0%e v 20.2% prior – (PE) Peru Apr GDP Y/Y: 7.1%e v 7.9% prior – 11:30 (IS) Israel May Consumer Prices M/M: 0.5%e v 0.6% prior; Y/Y: 4.2%e v 4.0% prior – 11:30 […]
Continue reading June 15, 2011
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Big Money makes an excellent Entry trigger, here’s how
Big Money for your entry trigger: We look for the time & sales window (read tape) to find the best times to enter a trade. We use our entry rules, in combination with tape reading to find the best times to enter trades at the best locations. We look for LARGE orders (elephant) on the […]
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Fear in Europe continues to move the US Dollar as Gold stabilizes and Crude oil demand continues to fall
Officials in Europe have failed to agree on a plan to rescue Greece, which has cause the Euro to tumble today, giving traders no choice but to move into Gold and the US Dollar Index overnight. This caused the Dollar Index to jump off the highs of our transition area we discussed in our trade […]
Continue reading June 14, 2011
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‘Inside Day’ on Crude Oil made for Easy Day Trading Profits
I begin my day with the dollar index. We discussed the inflation concerns on our morning prep today. We begin with the 89range chart and we see the following: New short term price channel from the swing high that occurred late Monday night. This new higher high creates the top of the wedge. Middle of […]
Continue reading June 14, 2011
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Higher food costs drive inflation in China and India
If you’re wondering WHY people are so frightened by possible inflation, here is a great video showing where its starting… We love your comments and opinions, post them below in the comment box
Continue reading June 14, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – Second ESFS bond issue to raise funds for Portugal – 11:30 (US) Treasury to sell 4-Week Bills – 12:00 (IC) Iceland May International Reserves (ISK): No est v 759.2B prior – 13:00 (EU) EU Finance Ministers meet on Economic Governance, Budgets – 16:30 (US) API Weekly Energy Inventories – 17:00 (CO) Colombia […]
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