$DJIA Rejects off Critical Resistance
As we tweeted beforehand today, the $DJIA was approaching critical resistance at the 11524 level (prior year low – turned resistance) and the index did not disappoint – hitting the level, going 4pts beyond and then selling off 180pts since then (see chart below). This is the critical barrier it must pass as it was the first barrier it broke through to put the market into negative...
Read MoreForex Trade Signals and Setups Aug. 15th
EURUSD – Looking Bullish Short Term – One more Hurdle to Clear After being choppier than the camera shots in Cloverfield, the EURUSD has started to wake up – and climb up for that matter. Seemed the pair did not like being locked up Arkham Asylum style over the last 2.5 weeks banging around like a mosh pit in between 1.4450 and 1.4050. Over the last 28hrs, the mainstay...
Read MoreTrading Lessons from Jesse Livermore – The Worlds Greatest Trader
A Brief History At the age of 14, Jesse Livermore began his trading career, although not as a trader. He was one of the young boys who would stand on a wooden plank in front of a chalkboard posting the quotes of prices for speculators. This was at the Paine Webber brokerage in Boston. After about a year of this watching stock prices, noticing patterns, having hunches and checking to see how...
Read MoreTrade Setups Aug. 11th
$Oil bounced solidly off of $80. Is it a bottom? Like everything, $Oil has been getting hammered shedding $20 a barrel of value since the end of July after failing to recapture $100. Since then, the sell-off has been aggressive with three days shedding almost $5 a day which is quite extreme. Since then, the pair seemed to have stopped on the $80 level and tested it 3x before having a solid...
Read MoreForex Trade Signals Aug. 9th USDCHF
There was a day where the traders I used to work with would never have imagined USDCHF hitting parity. Those days seem like ions ago and make me feel old as a trader. But here we are and now the USDCHF is trading at barely above .7250. How the world has changed. With that being said, there is an important question as to whether the CHF has had its rally and is bouncing or still has more room...
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