Yesterday saw a bit of recovery from Monday's selloffs, but the trend remains down and rallies should be shorted for now on the EUR/USD and Gold. The stock market situation is a bit more tricky,
personally im looking for a bit further of a selloff into stronger support, then a potentially large rally. Timing these perfectly is tough, but the swings are large enough where I think the best way I can trade these markets is with position trades scaling in and out with an overall bias, which is why my signals have shifted from more scalping advice to position trading and market direction advice. Yesterday, we saw the Japanese Tankan make a nice 50 pip move higher on the yen crosses when the number came in at decade lows, so I like the idea of looking to trade this number next month. AU Retail Sales got overshadowed by some back and forth rumormongering about the Obama administration and GM, but still managed about a 30 pip move with somewhat healthy retrace/reattempt type price action following the release. For Wednesday:
No comments:
Post a Comment