Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
Not a lot going on to start the week. No real news trading opportunities to speak of Monday unless you want to trade the AU Monetary Policy Report at 2130 (I plan on skipping it). I still believe the EUR/USD has enough left in it to make a run for 1.4700 before topping out, but there's always the chance it's topped out already. A break below 1.4350 should be enough confirmation that a lasting high is in place. As long as that doesn't happen, I'll wait for a higher price near 1.4700 probably to sell the EUR/USD for a long term trade. On the shorter term angle, I like the idea of buying dips into support near 1.4500 and 1.4450.
Gold and Silver likely have further upward extremes to reach as well. I'm still holding a bit of my swing trade long looking for 1035. Shorter term I'd focus on buying dips here as well.
Stocks were pretty flat Friday and are kind of in no man's land. We're at or near the end of this major upmove, but an extention higher is probably the most likely possibility right now. With September S&P futures down 10 points into 1031 support over the weekend, I'd buy the dip on futures (trade the more active December contracts now though about 4 points lower) with a fairly tight SL looking for Monday's open to push higher than current futures levels indicate. Longer term though, it's much like the Euro where I'm waiting for either a more attractive price (near 1100) or more conclusive confirmation that lasting downside is underway (at the moment, a decline beneath 990 to be sure).
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
Not a lot going on to start the week. No real news trading opportunities to speak of Monday unless you want to trade the AU Monetary Policy Report at 2130 (I plan on skipping it). I still believe the EUR/USD has enough left in it to make a run for 1.4700 before topping out, but there's always the chance it's topped out already. A break below 1.4350 should be enough confirmation that a lasting high is in place. As long as that doesn't happen, I'll wait for a higher price near 1.4700 probably to sell the EUR/USD for a long term trade. On the shorter term angle, I like the idea of buying dips into support near 1.4500 and 1.4450.
Gold and Silver likely have further upward extremes to reach as well. I'm still holding a bit of my swing trade long looking for 1035. Shorter term I'd focus on buying dips here as well.
Stocks were pretty flat Friday and are kind of in no man's land. We're at or near the end of this major upmove, but an extention higher is probably the most likely possibility right now. With September S&P futures down 10 points into 1031 support over the weekend, I'd buy the dip on futures (trade the more active December contracts now though about 4 points lower) with a fairly tight SL looking for Monday's open to push higher than current futures levels indicate. Longer term though, it's much like the Euro where I'm waiting for either a more attractive price (near 1100) or more conclusive confirmation that lasting downside is underway (at the moment, a decline beneath 990 to be sure).
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
