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Showing Commentaries 1 - 15 out of 17 found.

Brexit Vote Creates Excellent Trading Opportunities

Brexit Vote Creates Excellent Trading Opportunities

The volatility in London's FTSE 100 Index after the Brexit vote has presented excellent trading opportunities in both directions. It also has led us to revise our analysis slightly from what we posted at TraderPlanet a month ago, although our forecast is still bearish from the present area. After the United Kingdom's vote to leave was tallied as a certainty, the FTSE led world equity markets...

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British Pound May Offer Countertrend Bounce

British Pound May Offer Countertrend Bounce

Following our post about the British Pound two weeks ago, just before the Brexit vote, we see that futures have followed the impulsive downward path. Price has reached slightly below the main support area we mentioned as a target for wave [iii]. However, there is other nearby support that the market should notice.  This is an ideal area for traders to get tripped up. Although the Pound has...

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U.S. Dollar: Following The Bull Move Higher

U.S. Dollar: Following The Bull Move Higher

After last Thursday's Brexit vote, the U.S. Dollar Index has offered some confirmation of the upward forecast we described in our June 2 post. Here we suggest some signals to watch as further confirmation of the upward trade, and we present some revised near-term targets. The index found support several weeks ago at what we have been treating as the bottom of a corrective wave (iv). It is...

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What A Difference a Week Makes

What A Difference a Week Makes

Last week I wrote that Eurodollar spreads were indicating only one hike a year, a glacial pace.  For example the spread between the September 2016 contract and September 2017 contract had settled on Tuesday June 21, at 23.5.  Yesterday, June 28, this spread closed at just 14 bps.  The surprise Brexit vote took Fed tightening out of the equation.  Where this is most apparent is in the Fed...

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U.S. Dollar Bull is Back

U.S. Dollar Bull is Back

The US Dollar has spent the last 6 months working lower in a well-defined descending trend channel.  But things are looking up following the Brexit outcome. Click here to watch a video explaining how to read markets using volume at price. As you can see from the chart below, US Dollar futures have broken out above the descending trend channel and the former resistance at 95.905 is now acting...

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Brexit Vote Unlikely to Rescue British Pound

Brexit Vote Unlikely to Rescue British Pound

Our chart of British Pound futures shows why we don't expect the Brexit vote to produce a drastic change in the value of the currency regardless of the decision. Although the Pound could break in either direction from its present area, the Elliott wave patterns for both scenarios suggest the next move will not be large. Even so, traders might find areas to watch for a turn near the levels we...

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Could Brexit Trigger A Domino Affect?

Could Brexit Trigger A Domino Affect?

With the UK- EU vote pending, the questions remain on what will happen. No matter which way the vote goes, I don’t think anyone knows what the end result will be for the UK or the EU. As the debate continues,   my thoughts turn to one the UK’s finest exports, The Clash. “Should I stay or should I go now? Should I stay or should I go now? If I go there will be trouble An' if I stay it will be...

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Brexit And The British Pound

Brexit And The British Pound

The Brexit vote is approaching and the British Pound is moving.  Here’s the important price levels that traders need to know. Click here to watch a video explaining how to read markets using volume at price. British Pound futures (6B #F) have been rallying and have reached resistance at 1.4674 – 1.4771.  A break above this zone would signal a bullish shift and target a move higher to next...

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Key Technical Trading Levels 6.20.16

Key Technical Trading Levels 6.20.16

All of these technical levels have been calculated from both volume-based continuation and contract specific weekly bar charts. Live Cattle (AUG):  the 109.72 -110.20 can absorb selling through July (assuming we open Monday above this important support region), above which 123.87 is attainable within 3-5 weeks where the August contract can top out into expiration, and the broader complex...

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The Psychology Behind “Harmonic” Trading

The Psychology Behind “Harmonic” Trading

Students of Elliott wave, harmonics and GANN will know about the so called hidden pattern of the universe which can be detected in the charts. Traders at large have big issues though relating the theory into workable concepts for their (trading) life. The reason for this is mental compartmentalization The linear mind does not like the idea of simplicity within complexity. Yet this is exactly...

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ETF Alert: Financial Select Sector SPDR $XLF Cracks

ETF Alert: Financial Select Sector SPDR $XLF Cracks

The Financial Select Sector SPDR ETF (XLF) is one of the most widely traded ETF’s each and every trading day.  It’s down 4% in just the last week, -1.5% just yesterday.  So when and where will the losses end?  Let’s have a look. Click here to watch a video explaining how to read markets using volume at price. The zone of support at 22.98 – 23.27, once broken, shifted the bias to bearish and...

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What Is The Fed Looking At Now?

What Is The Fed Looking At Now?

Today, (Wednesday) the FOMC makes their announcement regarding rates.  After this month’s weak payroll report, the market significantly cut the odds for a hike at any time this year.  The quarterly FOMC meetings come with a press conference, and though some Fed officials have vocally called for rate hikes, Yellen is likely to adopt a cautious stand for the foreseeable future.  The Fed’s risk...

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Dollar On Verge Of Confirming A Rally

Dollar On Verge Of Confirming A Rally

Monitoring the U.S. Dollar Index gives us an edge in forecasting turns in paired currencies and sometimes even in precious metals and other commodities. Right now, our forecast is for the Dollar to climb impulsively into mid-2017 or later, which should make it difficult for other currencies and precious metals to advance by much. Based on the Dollar Index's response to a recently tested...

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Can You Replace Your Income Through Trading?

Can You Replace Your Income Through Trading?

One question I often get asked is whether you should live off your trading profits or let it grow? My answer is, it depends… Why is that? Well, it depends on your current account balance, and on your goals. If you goal is to quit your current job and trade on a full time basis, it is probable that you will need to build up your account to a more substantial size.  If a retirement nest egg is...

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Welcome To June The “Baddest” Month?

Welcome To June The “Baddest” Month?

Welcome To June The “Baddest” Month? Convention, tradition, or established patterns are not things the market truly honors. Sure, there are times when those three things come into play, but you can never … rather, you should never count on them.  - Stocks entered the final trading day of May with solid gains across the U.S. and Europe for the month, supported by a 5 percent jump in the oil...

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