Forex Price Action Setups (NY Close) Apr. 23rd
Spain, the Land of Orange and Wal-Mart Sink Global Markets Things just started off bad for Europe with a 1-2 combo of the Dutch political turmoil with the P.M. resigning his post over the budget cuts and austerity fiasco adding to the already unstable EuroZone since they (the Dutch) were such strong backers of the EU fiscal treaty – ironically lecturing Greece on getting its house in...
Read MorePrice Action Forex Trading – Engulfing Bar Reversals
One of the more popular price action forex reversal patterns people trade today is the engulfing bar reversal pattern which is one of many two bar reversal patterns or AB reversal patterns (AB as in it has an A bar and B bar as part of the pattern) available. Although this is a commonly traded pattern, many traders fail to find the best entry or are able to gauge a proper target using any sort...
Read MoreForex Price Action Setups (NY Close) Apr. 19th
Whiff – Data Misses on All Fronts Stocks fell globally starting with the first whiff of the day – the Spanish Bond Auction failed to meet its target while the 10yr yields climbed continuing the mantra the Pain in Spain isn’t going away. Italian, Spanish and French yields all widened across the board today which sours the picture in the EuroZone more relief will be needed,...
Read MoreForex Price Action Setups (NY Close) Apr. 18th
All Eyes on Spain If the markets had a personality that was based on the sentiment of the day, there would be one word to describe such a personality – bi-polar. It just takes one piece of good news to make almost every one a bull, and one thing out of the US, Europe or China to sour the elation from the day before. Yesterday it was the better than expected German ZEW report which...
Read MoreForex Price Action Setups (NY Close) Apr. 17th
Risk Back On the Table – Until… Stocks in the US had their largest single day gain in a month as the German ZEW (sentiment) came in at 23.4 with a largely expected 19 print, along with the 12 and 18m Spanish bond sales and 10yr yields below 6% tempering worries the EU was unable to contain the current crisis- the ballooning Spanish Debt. The S&P gained 1.55% on the day while the...
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