Man Flu Foggy Mind starting to lift…
Easter is now well and truly over and we (including me after my recent Man Flu) are returning to normal… whatever normal may be!
A note to self: Always be open to the possibility that I may be wrong or that things change. React accordingly with the new information without being blinded by old information or trying to prove I am right…
The key Indice to watch is the SPX500 which leads the way. NAS100 is my prefered indice to trade to to shorter moves and better risk management with a small account.
Currently indices are struggling to keep on top of their long trend, mainly led by big changes in the tech sector based on privacy legislations.
SPX continues to fall and put pressure upon the 200 day EMA and also the recent lows area. With consistent lower-highs, it’s possible this pressure will eventually break this area of support to fall to the lows of the previous candle tails. Beyond that level is free territory for big declines.
With the ongoing fall of the SPX and the NAS following it’s lead… (Thought: If the decline is down to tech issues, is it the NAS that’s leading the fall and the SPX and DOW following?) Anyway, based on my previous notion of the SPX leading the fall and once again breaking the 200 day EMA, I placed my short order on the NAS.
I’ll question my thoughts in my trading mentor’s group to see what they make of them. I may have to adjust my positions to reflect and changes. For now, the trade is live and I’ll have to manage that.
I’ve not really looked at the FX pairs much yesterday and today. I’m only managing the positions I have open right now…
It looked promising. It made consistent steady gains towards my target and towards completing the right shoulder I have been mentioning. But today, it wasn’t to be as the USD tumbled against the CAD hitting my Stop Loss (Which I had moved a few days ago to just over break even so nothing lost on this trade… which is a good result!)
Price has re-traced back to my entry point. Whilst price hasn’t currently made any higher-highs, it’s at its current position after making a higher-low.
Whilst the USD may have weakened against the CAD, it found strength (as did the AUD) against the JPY. After making consistent LHs and LLs, it’s decided to now make HHs and HLs since my short entry into this pair.
There’s also the possibility of a broken trendline which may indicate a trend reversal.
Price: £94.07Was: £109.99
Price: £12.57Was: £12.81
Price: £44.98Was: £69.98
Price: £19.99Was: £29.99
With the inability to properly short the crypto market, I’m still holding Euro’s aside waiting to reach the bottom of the dip in the crypto market.
Today, the Market Cap makes steady gains to just over $280b with BTC dominance dropping back below 45%.
Bitcoin makes a retracement off the previous lows near $7k… where to? Possibly back near the $8k level (Previous swing low) before reaching a potential $6k.
With Market Cap rising, NEO has also risen, so I’ll sit back and wait for the MC to continue dropping.
Books offer great value for knowledge… Here’s some of my best “money books”
A boring disclaimer… coz I don’t wanna be sued and stuff!
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I am not qualified or considered an expert in any aspect of trading and the words which I write are my opinion only and not to be considered correct.
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