Friday, November 11, 2016

The dust settled

I did not daytrade the post election hectic price moves, it is time to look at the shorter time frames again.

SP500: I don't see the risk reward on the long side, whereas I don't like the short because of strong market sentiments.

NQ: I missed two entries on the long side, so it is time to wait and see.

Gold: the chart is too noisy for me to trade at the moment.
Update: Gold is heading to 1200.
Update2: Thinking this through again, it was a very big mistake not to expect Gold short. Obviously massive risk-off positions were built up before the election that are being unwound. 

EUR: it is at a long term (March 2016) resistance, so I look for come correction. I missed two entries here again, stop would be at entry now.

GBP: I do not trust this rally and I will look for short entry around 1.2800 if it gets there. 

Aussie and Kiwi: both charts are too noisy for me.

JPY: approaching a major resistance at 107.50. No risk reward on the long side and I'm bearish on JPY.

CAD: it is also too noisy.

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