Hey folks,
Last week we spent the week bullish across the board, but standing aside waiting for an impending pullback to give us a good entry long on stocks, EUR/USD, and/or GBP/USD. The strong earnings reports helped buoy markets and extend their rallies a bit so we enter this week with the same strategy. We're waiting for a nice sharp dip in the stock market of 3-5%, a pullback on EUR/USD near 1.4000, or a pullback on GBP/USD to the 1.6200's in order to go long for the next swing up. Trying to time the top with a shorter term short can be a bit problematic since it is counter trend and like we saw last week, in-trend moves can extend further than you expect. Ultimately, hopefully after a nice pullback, we will see rallies over 1000, 1.4350 and 1.6750 on the S&P, EU and GU respectively. On silver, we're seeing it rally over $14 now, so it's likely on its way to $14.30ish which should be an ok spot to initiate In news on Friday, we saw GER IFO not quite surprising enough to hit our trigger and get the EU moving well, but UK GDP came out MUCH lower than expected and put the GU into a nice 40 pip drop right away, followed by a 120 pip tailspin over the course of the next 4 hours before bottoming along with rising stocks. On Monday for news there's only one item:
1000 US New Home Sales (352K expected) - We haven't seen a big deviation on this one in quite some time, so we could get some nice price action on a risk appetite pair like the EUR/JPY if we get an unexpected 50K surprise.
If it comes out at 400K or higher, EUR/JPY should rally 40+ pips.
If it comes out at 302K or lower, EUR/JPY should fall 40+ pips.
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
Last week we spent the week bullish across the board, but standing aside waiting for an impending pullback to give us a good entry long on stocks, EUR/USD, and/or GBP/USD. The strong earnings reports helped buoy markets and extend their rallies a bit so we enter this week with the same strategy. We're waiting for a nice sharp dip in the stock market of 3-5%, a pullback on EUR/USD near 1.4000, or a pullback on GBP/USD to the 1.6200's in order to go long for the next swing up. Trying to time the top with a shorter term short can be a bit problematic since it is counter trend and like we saw last week, in-trend moves can extend further than you expect. Ultimately, hopefully after a nice pullback, we will see rallies over 1000, 1.4350 and 1.6750 on the S&P, EU and GU respectively. On silver, we're seeing it rally over $14 now, so it's likely on its way to $14.30ish which should be an ok spot to initiate In news on Friday, we saw GER IFO not quite surprising enough to hit our trigger and get the EU moving well, but UK GDP came out MUCH lower than expected and put the GU into a nice 40 pip drop right away, followed by a 120 pip tailspin over the course of the next 4 hours before bottoming along with rising stocks. On Monday for news there's only one item:
1000 US New Home Sales (352K expected) - We haven't seen a big deviation on this one in quite some time, so we could get some nice price action on a risk appetite pair like the EUR/JPY if we get an unexpected 50K surprise.
If it comes out at 400K or higher, EUR/JPY should rally 40+ pips.
If it comes out at 302K or lower, EUR/JPY should fall 40+ pips.
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
