Many markets at key resistance or close to it last week suggest we could pull back this week and I would be a buyer of dips in risk. Breaks above and this meat grinder market will keep on going.
Good Luck!
Good Luck!
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Enjoy summer and hope it is still there for you to find.
ReplyDeleteHave a great week Nic - rest and break from the markets is advocated by quite a few traders! Speak soon, Grim
ReplyDeleteHello Nic, Very nice blog. I notice that you post on Strat's thread on forex factory. Do you trade the style he preaches or have you revised it for your own means? Thanks Paul
ReplyDeleteHello
ReplyDeleteI trade the style he teaches in that I take the daily and weekly setups that he teaches but I look for entries on 4hr or 1hr charts.
I probably rely on fibonacci a bit more than he does but otherwise its the same.
Nic, whats up with usdcad? Its the one piece that doesnt stack up for me this morning...
ReplyDeleteUSDCAD is bouncing on the trendline support from the April lows and 1.03 support. I think its held its value because oil has been strong but I see a big USD bounce here off the big 50fib level in the dollar index.
ReplyDeleteI-Man look at the harmonic pattern on the SPX here: http://geometricharmony.blogspot.com/2010/07/tuesday-27th-july-2010.html
ReplyDeleteThanks... I knew there was something longer term to it. Short term action didnt add up.
ReplyDeleteNic i like your harmonic pattern blog.
ReplyDeleteAnd Thanks for sending me the other module. It works :)
I am now thinking about opening up an account with FXCM MT4. Their platform is so easy to use.
AUD.USD is breaking down. It has now reached the 60min uptrend support @ 8907'ish. Once it breaks that line, it should be easy coasting down.
ReplyDeleteNic,
ReplyDeleteHope you do take the time, and have a wonderful week. Now that I have found your trading blog, I'll add it to my favorites.
BinT
Thank you so much Bruce.
ReplyDeleteIt might take more than a holiday, I may still need a trip to the salt mine to regain my youth :)
nic do you know what the 10 Handle rule is? [topstep vid comment].
ReplyDelete[so why did he go to a salt mine? :)]
NIC, what do you think of JPY.USD?
ReplyDeleteUSDJPY - I am still in sell rally mode and I think we are going lower. The Japanese might make noises and cause it to bounce down here but I think we go to 84.80-85.00 next.
ReplyDeleteI think the 10 handle rule is because the sppos used to trade in a 10 handle daily range so if it was already down 10 handles on the day you wouldn't sell it but I will double check.
ReplyDeleteBruce is a (very good) plastic surgeon
Nic! when you regain your energy, send some my way, please.. what a week!
ReplyDeletenic have you ever looked at the hidden pivot abcd method?
ReplyDeleteas in
http://www.rickackerman.com/lp/webinar/
CTRL + F - "Nic" 31 found.
ReplyDeleteNice picture Karen!! Summer trading sucks, hope you are doing OK, I'm much better :)
ReplyDeleteRichard - I was very sceptical when I started watching your video (the "hidden" thing put me off) but whether you call it an Elliott wave ABC, a harmonic ABCD or a Wolfe wave, etc., the markets love symmetry and equal measured moves work.
NFP upside surprise would mean a lot of dollar shorts would have to unwind in a hurry. Gold and crude look vulnerable in that scenario, not to mention the 2y UST.
ReplyDelete