Hey Folks,
Friday saw all 3 markets come down as forecasted in Friday's video signal with US stocks, gold, and EUR/USD all declining. The break lower on EUR/USD below 1.3415 was the clear evidence we needed to reaffirm our bias short on the EUR/USD and look for much more substantial downside. It's time to start building a position trade short on the EUR/USD... watch the video for more details, but it will take a clear break of 1.3750 to change our minds. Gold is consolidating near support (see video), so it's not the best short right now... it should break it's support around 916-918 and once it does, that's some good confirmation to get in at that point... otherwise, short a good bounce higher. Stocks are a bit confusing because they're in a long term downtrend, medium term uptrend, and now entering a short term downtrend... What does that mean? Short it for now and look for 765-775 on the S&P... and/or when it gets down to the 750-775 range, start to build up a medium term long position looking for larger upside and/or once it rallies up to 900-1000+ on the S&P, start taking profits on longs and building a long term position trade short. Not too bad when you think about it. If the outlook changes, I'll let you know in the video for sure. Friday's news saw UK GDP work very well with 35 pips down right away, and 60 pips total after a 50% retracement, so even the -0.1% deviation I called for worked pretty well.
Monday and early Tuesday have no worthwhile news events worth trading, so there's nothing news-wise to preview until Australia Retail Sales on Tuesday evening which will be covered in tomorrow's signal.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
Friday saw all 3 markets come down as forecasted in Friday's video signal with US stocks, gold, and EUR/USD all declining. The break lower on EUR/USD below 1.3415 was the clear evidence we needed to reaffirm our bias short on the EUR/USD and look for much more substantial downside. It's time to start building a position trade short on the EUR/USD... watch the video for more details, but it will take a clear break of 1.3750 to change our minds. Gold is consolidating near support (see video), so it's not the best short right now... it should break it's support around 916-918 and once it does, that's some good confirmation to get in at that point... otherwise, short a good bounce higher. Stocks are a bit confusing because they're in a long term downtrend, medium term uptrend, and now entering a short term downtrend... What does that mean? Short it for now and look for 765-775 on the S&P... and/or when it gets down to the 750-775 range, start to build up a medium term long position looking for larger upside and/or once it rallies up to 900-1000+ on the S&P, start taking profits on longs and building a long term position trade short. Not too bad when you think about it. If the outlook changes, I'll let you know in the video for sure. Friday's news saw UK GDP work very well with 35 pips down right away, and 60 pips total after a 50% retracement, so even the -0.1% deviation I called for worked pretty well.
Monday and early Tuesday have no worthwhile news events worth trading, so there's nothing news-wise to preview until Australia Retail Sales on Tuesday evening which will be covered in tomorrow's signal.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
