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US Dollar Breakout: End To Stock Bull, Renewed Commodity Bear

US Dollar Breakout: End To Stock Bull, Renewed Commodity Bear

It seems nothing can stop the U.S. dollar. Since its low in April it has closed higher in four out of five months and is up almost 8.00% since then.  While a run like that is in need of a rest there are some big issues that need to be considered now. DXY broke out of a six-year triangle this month. Breaking to the upside from a triangle is bullish. That triangle is essentially a six-year...

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Time To Cover Short Euro Position

Time To Cover Short Euro Position

I've been bearish on the euro (versus the dollar) since late July. [Editor's note: see Burba's previous TraderPlanet stories on the euro July 29th and August 19th). Key Points Although there could be some more downside before the downtrend in this market ends, I feel less comfortable advising anyone to be short here. I base my stance on two points. The first is the proximity to a substantial...

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Is Gold Going Up Or Down?

Is Gold Going Up Or Down?

Since the summer of 2013, gold has been tracing out a large consolidation pattern, registering lows at and above 1179 and highs at and below 1434.  A break from this consolidation pattern is likely to carry prices to one of the next zones of large degree support or resistance, depending on the direction of the break.If price continues to move lower, as is the near-term direction, the next...

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Trading Psychology: Risk Averse Or Risk Seeker?

Trading Psychology: Risk Averse Or Risk Seeker?

By definition, active traders and investors have some degree of Risk Seeking built into their personality, or they wouldn’t be so interested in the markets. Instead, they would be satisfied with their day job. Individuals who follow the market closely and get involved with it on a daily basis usually need the stimulation and challenge that comes from wrestling with the unpredictable Wall...

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Rally In Aussie Futures Fails

Rally In Aussie Futures Fails

One currency pair I've been bullish on this year is the Aussie dollar's value to the greenback. However, the drop in Aussie futures yesterday and today changes that outlook. This market now appears to be in danger of tracing out a large top that could spell losses in the intermediate term. Aussie futures started to consolidate at the beginning of July. This looked constructive at the time,...

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7-Year Commodity Cycle Due To Bottom This Year

7-Year Commodity Cycle Due To Bottom This Year

Subscribers to Seattle Technical Advisors.com know of a seven-year cycle in commodities which is due to bottom near year-end. With cycles this big we can’t be accurate to the day, week, or even month but having entered the last third of the year I thought it might be a good time to look at how commodities are playing out so far this year. In my March 10, 2014 column “Copper plunges on China...

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Follow The 3 Key Trading Rules Of Jesse Livermore

Follow The 3 Key Trading Rules Of Jesse Livermore

If you're a student of market history there is nobody you learned more about than Jesse Livermore. Edwin Lefevre wrote his story in the book Reminiscence of a Stock Operator, one of my favorite reads.  He was truly a man before his time, making his fortune during the days prior to the Great Depression at bucket shops and fledgling brokerages.  His tape-reading skills were legendary and are...

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Psychology: The Five Trader Personality Types, Which One Are You?

Psychology: The Five Trader Personality Types, Which One Are You?

I’ve learned from over a dozen years as a coach to top traders that traders, like criminals, can be profiled (no offense.)  In fact, just 5 Trader Personality Types encompass all the personality variations I’ve ever encountered, if one includes hybrids. (By the way, these five types have nothing in common with standard academic or corporate personality models.) Over the last 5 weeks I’ve...

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Canadian Dollar: Loonie Hugs a Key Floor

Canadian Dollar: Loonie Hugs a Key Floor

I'm sticking with the foreign exchange markets this week as this asset class continues to show attractive position trade scenarios (short euro and yen are both working out nicely). The Canadian dollar futures contract is pressing technical support at 0.9113 for the fifth consecutive day and intraday price weakness has so far attracted buying. This line in the sand is a 50% retracement of the...

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The Three T's For Day Trading In The Forex Market

The Three T's For Day Trading In The Forex Market

FX trades nearly $5 trillion each day, according to 2013 Bank for International Settlements Triennial Report. Many traders are attracted to the FX market due to this substantial amount of liquidity and the ease of getting into and out of positions.[Editor's note: this is part three in a Learning To Trade Forex series by Daily FX on TraderPlanet. Read the previous story here.]This has led to...

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The 5 Trader Personalities- Part 5: The Engineer

The 5 Trader Personalities- Part 5: The Engineer

One’s personality is like the water a fish swims in. It colors our perceptions and decisions in a global manner that we are usually quite naive about. Frankly, one’s personality quirks often get a pass from others in the course of daily life (“He’s just that way.”), but when it comes to the financial arena, our personality strongly affects our bottom-line results.   [Note: In my work with...

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Bear Pennant Makes Eurodollar A Nice Short

Bear Pennant Makes Eurodollar A Nice Short

The euro's value to the dollar (EURUSD) was one of the more bullish currency pairs in the first half of the year, but the trend reversed in May. The chart exhibits the Wall Street adage that “markets take the stairs going up and the elevator going down.” I don't see any technical evidence suggesting the downtrend is near an end. The Chart Since the beginning of August, EURUSD has been...

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How To Trade Forex: Fundamental Drivers For FX

How To Trade Forex: Fundamental Drivers For FX

Many FX Traders spend time learning how to spot trends or reversals on the chart without focusing on what causes those trends or reversals. The news, or fundamentals behind a currency pair, is often the reason for major moves that traders look to trade.  Today, you’ll receive a basic primer on major economic reports and how they impact Forex. [Editor's note: this is part two in a Learning To...

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The 5 Trader Personalities- Part 4: The Realist

The 5 Trader Personalities- Part 4: The Realist

It is as difficult to perceive one’s own personality as it is to see one’s face without a mirror. It sometimes takes frank feedback from someone we love to really get a sense of who we actually are. Most advice you hear about trading is not objective advice… it is already colored by the personality of the person offering it. And almost always that person is touting the specific information...

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Liquidity Rules: Commercials Remain Big Buyers Of Eurodollars

Liquidity Rules: Commercials Remain Big Buyers Of Eurodollars

Eurodollars are basically, U.S. currency held abroad. These free flowing dollars exist outside the scope of U.S. financial regulation. These funds allow banks and investors the opportunity to own, lend or borrow U.S. dollars based on the rules and regulations of the country where the money is held. Foreign banking regulations are typically, less costly than our own. Therefore, the Eurodollar...

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