Not much more to say today, the opportunity has gone, so there is no point chasing any others today. I am therefore going to sign off and focus on this new dashboard.
Missed this opportunity just a moment ago. Delta was winding up nicely and the price has just about broken through the triangle and taken a jump higher. I had to go out for a couple of hours, partly to avoid the temptation of trading. I find this is a +EV move for me (positive expected value – an old poker playing term). We still have horizontal resistance above, so this zone could get choppy even now.
I am avoiding the temptation to trade this. 5 minutes to go
Not too much doing here. We are coiling up for Friday afternoon. I suspect I am going to trade very little today
Caught in two minds at the moment. We are coiling up pretty significantly here, I expect a breakout soon. Momentum is picking up on the Delta (bullish), we’re at support, it’ll break higher right? Well, maybe, but then we’re massively bearish from the daily chart and this sideways movement could as easily be a balance point with another 50% to move to the downside. I’m actually split 50/50.
Let’s trade what we see. Not specifically trade a breakout, because it could be fake.
Spent the last couple of hours completing the daily webinar, editing the footage, savings the world, writing the daily article and working with a designer on the new Journal ‘dashboard’ which will be ready hopefully next week. Looking forward to that.
Still no trades, I have been studying the charts preparing for the webinar. It is NFP day today, there are a couple of possible setups on the cards, but I don’t tend to enjoy trading on a day like this. So the journal may be a little lighter today.
Market about to open, let’s see whether the rioting has any impact. We currently have no positions open.
I am slightly confused by ECB Coeure’s comment “the recovery has finally arrived”, adds “it would be unwise to let guard down as recovery is of a cyclical nature. Euro area has entered a phase of economic expansion” but adds “underlying inflation remains weak”. #confused I am of the belief that the ultra-accommodative monetary policy cycle is coming to an end. The Fed is tightening, the BoE are next, the ECB is hinting. It’s not conducive to strength in the stock markets (long-term) is it.
The riot police in Germany have their work cut out….