View: Blanks of the trader
Blanks of the trader
There you go traders after fairly long Xstmas and New Year break finally had a chance to look at the charts. Normally i'm reluctant in terms of getting involved with markets straight after the holiday period. The main reason for it is that Reticular Activating System (RAS) gets blunt at the times of inactivity therefore sometime is definitely needed to sharpen the eye and reinforce RAS.
Couple of lines on how this blog will look like in coming year. Will be making an effort to make it more interactive by adding some external widgets as well as more recent updates to what is going on in my portfolio watch list during the week trough my new twitter account In terms of the content of the blog will be keeping the same format of weekly stubs as as well as more deep dive posts.
Looking ahead for the first proper week of trading this year nothing really that is worth jumping in at the moment. Some potential setups possible though for the short term future.
Will start with DOW where as usually likely to see steady move north at the start of the year due to portfolio managers building their positions for the coming year.
Area around 13640's is likely pivot of congestion, having said that at the moment it is not valid shorting opportunity in my book as more confirmation will be required.
EUR/USD has potential to complete 2618 pattern on 4 hrs chart at around 1.3180's area. Again this opportunity may not be for everyone as at least about 160 pips of risk has to be taken on board, see the chart below
Finally Gold (XAUUSD) had lots of erratic price action recently. Spotted fib ratio at around 1623's area. My CTS score combined with risk in pips is not enough in order to get involved in this long setup though. See the chart below
Have a great year, and profitable week traders!
No comments yet.