Crude Oil short trade

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I’m looking at daily chart and a significant trend reversal from long to short is showing. See on daily chart a clear bounce down happened on July 2nd of about 3.00 dollars.

I’m shorting below 55.45. exiting at 55.07 and then shorting below at 54.45 to exit at 52.39

Orders placed and first stop is at 56.15 , thens the second stop is at 55.10. Risk reward ration approximately 1:2

gold and Euro – Flight to safety when Crude tanker gets attacked?

Very interesting flight to safety? Or Not? As i mentioned in the last post that i shorted EURO at 1.1291 on technical chart pattern signal and it is in my directions around 185 dollars profit (100,000 EURO lot short on my fantastic mobile app of forex.com).

But i did expect Gold to fall. Why? EURO and Gold have direct relationship. That is, if EURO falls which means dollar rises which mean Gold falls. but EURO went down and Gold went up! Because GOLD is flight to safety commodity!

as the tanker attack in persian gulf took place, people went to GOLD for ‘safe investment’

lets see what happens on purely technical chart patterns – from 31st May through 12th June EURO went up from 1.1124 to 1.1344 vis a vis to GOLD what happened to GOLD prices? GOLD went up from 1282 to 1338.

NASDAQ NQM19 is still meeting resistance at 50 days SMA. I am waiting for break above 7575 before i get in. In relation to NASDAQ composite. Let’s see on the last day of trading today in the markets – NASDAQ composite should comfortably trade above 7860. It has been an outside day yesterday which i was not expecting and is quite bullish.

GOLD man – GOLD GCQ19 is hovering near 1350 dollars. what solid moves up. very bullish on GOLD.

happy travel trading !

 

 

nasdaq is losing steam

it has been a fantastic week with nasdaq. Good trade. Got in own 6/6 at around 7100 and got out on 6/11 for about 390 points profit in NQ

EUR usd is just transitioning down. Both GOLD futures (went up 30 dollars) and EUR USD went up. Gold and USD have inverse relationship. So if EUR is going up, GOLD also goes up

I missed out on Crude – just made about 160 ticks on it… Instead of around 1000 ticks. It is a big bummer since the chart indicated that it has broken support.

NIFTY 50 in India has been very volatile and erratic. Currently i am off and in the sidelines.

Just shorted EUR at 1.12910. the charts indicates a clear change in direction. GOLD is still little bit uncertain. Waiting for the patter to emerge.

EUR is interesting now – It has gone up about 200 pips in 8 days. a steep ascent. It has aggain broken an important support of 1.1300.

Happy traveling and trading

 

Great rally so far but OBV not convincing on NASDAQ

according to IBD – “The Nasdaq composite ended with a gain of 1.5%. But the blemish to the gain was that the index met with some selling pressure as it approached the 7500 level. The index’s 200-day moving average currently sits around 7520. The Nasdaq closed in the upper half of Monday’s range, but it ended just below the 50-day moving average.”

The On Balance Volume (OBV) on QLD is not convincing – it is just above the levels on Nov 9th 2018 which is 59.337 Million as opposed to yesterday which was 59.786 million. no divergence (this divergence was exactly seen on Nov 7th 2018 at 62.335 million which was much below at similar QLD price levels on 10/22 when then OBV was 67.719 million)

then the market fell from 7500 Levels on Nov 7th to 6900 levels on Nov 20th – a drop off 600 points because of volume pumping up the price was not intense. OBV would indicate that very clearly.

according to IBD – “The Dow Jones and S&P 500 each added 1.1%, closing bullishly above their 50-day moving averages. Preliminary data showed volume on the NYSE coming in about 10% lower than Friday’s total. Nasdaq turnover was close to Friday’s.”

but for NASDAQ the cortical level of 7500 is not crossed.

Market is in rally but preserve capital and profits

unchanged Yom Kippur

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market remains unchanged. 65.27 % of S&P 500 stocks are above their 50 Days SMA.

Look at the chart above – QLD is in candle sticks weekly 2 years chart

IGV is software setor ETF and XLV is health care sector – QLD is up 124 % and

IGV – 76 % and XLV 30%

Nothing beats QLD

Decision : I will continue to be long on QLD and NQ

good rebound, neat charts

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When the market fell on Monday, Look at the first chart – how much percentage of S&P 500 stocks fell below their 50 Day SMA? Just minuscule!

the second chart is the ETF FFTY is top 50 growth stocks in the market. It is holding well.

NFLX went up well in high volume on Monday.

Decision : I’ll continue to be in the market and am long on QLD and NQ.