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50 points on the DOW

50 points on the DOW

Well I took 50 points off the DOW today. I think it has much further to go and it already has moved 30 points beyond where I took profits but hey ho! There was some support at 14900 and you tend to get some support at these numbers so I figure it would be good to take some profit. Looking at this daily chart though, it does look like it has further to go down. Still, I also put on a binary bet that the DOW would go down today. Unless the market can get above 14975, I should have a nice

July 2, 2013 No Comments Full Story

Gone Short on the DOW

Gone Short on the DOW

Ok I've gone short on the DOW. I'm seeing a dowtrend in the daily charts.. it's a series of lower lows and lower highs. I believe that the market has just completely it's retrace from the downtrend and now going to make it's way down. The blue line shows that there has been a resistance where price was contained, this is around 15080. I'm hoping price will head lower to 14650 or so where my target is.

July 1, 2013 No Comments Full Story

The Pinbar that Failed – GBPUSD Forex trading

The Pinbar that Failed - GBPUSD Forex trading

Pinbars are usually great indicators showing strong buyers or sellers in the market. Typically, you would follow the strong participants in the markets as there is a greater chance of the price going your way if you follow them. However, this wasn't the case for the GBPUSD forex pair on Friday. I actually placed a long on the Thursday seeing the pinbar. Now, it was a countertrend trade which is more risky and the day before, we did get a very strong sell bar. However, the pinbar as you can s

June 22, 2013 No Comments Full Story

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