11 replies to this topic

[dTraderB]

Like a broken record..... ST sell still valid as the daily SPX closed just below the STOP @ 2816

 

The stop has barely move up, happens with low ATR,  SPX 2818.4 daily close

Support at SPX 2804, tightening ranges as markets in Summer doldrums mode. 

 

Yesterday was quite busy, ended up day trading QQQ options at one time (not recommended unless you can handle it),  had two QQQ day trades -  one long & one short, one long VXX trade, one long CRUDE trade, and several ES trades.

 

Here is one thing I have observed about the CRUDE charts and why I like daytrading it:  NYMEX traders seem to use the basic conventional indicators e.g. MACD and StochasticRSI, 

 

 

[Coach]

 

 

Here is one thing I have observed about the CRUDE charts and why I like daytrading it:  NYMEX traders seem to use the basic conventional indicators e.g. MACD and StochasticRSI, 

 

 

 

Yes, for years I have been amazed that the basic TA strategies from the 80's still fit CL trading.  Or even simpler, 30 minutes before the crude markets open start drawing trend lines.

[dTraderB]

Is the Chinese YUAN devaluation a deliberate policy of the Govt there? 

Could this lead to competitive devaluation?

https://www.forexliv...19-jul-20180719

 

Edited by dTraderB, 19 July 2018 - 08:23 AM.

[dTraderB]

A spike at 13:01, up then down in ES 

Any reason? 

Not a major spike, just want to know

Edited by dTraderB, 19 July 2018 - 12:24 PM.

[CLK]

Trump not happy with Fed hiking interest rates. Tweet and CNBC interview, I read.

Edited by CLK, 19 July 2018 - 12:28 PM.

[dTraderB]

Thanks.  LOL

 

Be prepared for a "Trump bashes FED" rally  !

[CLK]

Somebody posted that interest rate increases will offset any tax

savings for businesses and consumers.

 

Trump said if they keep raising rates the work the administration has done will be nullified.

 

The Fed is independent, they will do exactly as they want.

So much for 3500 SPX.

Edited by CLK, 19 July 2018 - 12:41 PM.

[CLK]

Somebody needs to do a cycle analysis on his tweets, make sure to not trade on those days, I can't trade right with

these kind of disruptions.

[dTraderB]

Have the FANGS fatally stung gold? 

 

No, but Gold may not have many golden days in the near future. 

Look at that daily gold chart!
 

Gold hits its lowest level of the year
Business Insider-17 Jul 2018

 

Gold Price Is Getting Crushed as Dollar Reaches New 2018 Highs
Hacked-20 minutes ago

 

Gold Prices May Fall Further After Hitting One-Year Low
DailyFX-17 Jul 2018

[dTraderB]