Category: Nezaradené

Wake Up Bulls, We Might Have Seen The Bottom. Weekly Trades (17)

The market tested out the strong support zone of $380-400 some days ago and boy what an impressive price action there! We saw three nice green daily candles since then which last happened at the start of the year. If bulls are serious about this trend change the price gains need to continue. Otherwise the market can follow a well-known slow downward choppy action as if nothing happened.

Anyway, I think the market is closer to a major breakout and the bottom might have been set in.

Buy: 516    Stop-loss: 480     Take Profit: 536; 566; 600
Sell: 485    SL: 516               TP: 475; 440

Waiting For A Break Out Of Non-trader’s Land. Weekly Trades (16)

I don’t like using technical indicators as my trading system is based purely on price action. Just because of plenty of free time today I wanted to have a look at once showed “Death of Volatility” chart and to upgrade it somewhat.

Though I haven’t found exactly the same ADR as used previously this one is also self-explaining. And when you mix it with Choppiness Index, you can get a nice picture where the market is right now and where it could go in a few weeks (months) ahead.

So what’s the lesson about? You can’t expect $100 or more move week by week in these choppy conditions. Sure it can happen as we could see the last week, but the next one can be slow again with the market allowing for 50 or $20 price change again. You never know, maybe not. These are just some indicators warning of to stay cautious and patient and adjust risk and profit accordingly.

Buy:  429.5     Stop-loss: 413      Take Profit: 455; 480; 525
Sell: 396          SL:  420                 TP:     382; 355