Good afternoon all
Messy day to be honest but good trades taken in Gold, Crude and FTSE...
The currencies hovered at key resistance levels and u can see the JPY currences falling off their medium term highs for small pullbacks. keep your stops above the resistance level for safety... Any trade close to a support and resistance can be worth a play in the opposite direction, witha tight stop... It often picks me the odd 100 pips...
- Crude Oil saw a positive turn off 123.75…Follow the 21 CCI for entry on the 60min.
- FTSE bounces off Daily 200ma on 60min chart. The higher low bounced at 6180 for a move towards resistance at 6250..
- EURJPY - The 163.00 resistance held all morning and watch how the 21 CCI fell off the highs. Great entry level…
- GBPJPY was dragged lower with USDJPY… Watch resistance level at 204.50 and the 21 CCI moving below 0.00 level.
- Gold broke 50ma with high lows all morning.. Gave indication that USD would weaken, which helped our JPY trades...
Mixed picture with figures to be honest… Still like EUR lower but USD figures keep letting me down. The market is very illiquid and lost direction to me, so be very careful.. Each day is different and hard to build in these conditions but there are good possibilities if you wait for them.
Speak tom.
Dan
