Thursday, October 28, 2010

Long ES looks like a good opportunity here

getting Long the ES here looks attractive in terms of risk vs. reward, got long at 1174.5 with a stop at 1171, well trend in the channel for the next week until QE2 is announced. Once QE2 is announced it will break to the upside or downside.


sold the EURUSD long from yeserday as it ran a full 200 pips in one day, it also tagged the trend line i had drawn as well. i'll take profits here and look for a better entry possibily next week

Wednesday, October 27, 2010

Looks like the EURUSD is forming a bullflag

the Euro's rise in the past 2 months certainly surprised many prominent market forecaster's who were calling for euro parity. the recent pullback in the euro looks as if its creating a bullflag pattern on the 120min chart. it is reaching oversold levels currently, it could also be forming a inverse head and shoulder. When the euro breaks 1.41, look for it to hit 1.45 in a hurry.