I will continue to post my views and analysis on the markets ..especially when asked !!
I just wish people would be less demanding and just learn to thank me for taking time out to post my live trades and analysis...........especially when my accuracy level is proven to exceed 90% !!
But that is humans for you......I have just learned to block out negative comments now, so I will continue to ignore. I am not in need of negative traders as they will ultimately blow there own accounts due to there inherent instability and will never succeed as traders. I am only interested in cooperating with positive traders now .......
So from now on, every criticism should be backed up with TA/FA analysis of the markets .......otherwise I am in no need of arm chair critics who never share a chart or there fundamental perspective on the markets.
OK back to my day job, back to what a real trader does.......and that is analysis !!
OK - I have put up a chart of US dollar index, as you can see it is heavily weighted towards EURO, JPY and GBP. In theory if we analyse these 3 on a daily chart we should technically know were the US dollar is headed ???
US Dollar Index @ major support here as fundamentals dictate fear/uncertainty hence spike in Gold yesterday > $1700
Technicals
1. prev res = supp
2. 200 MA support and golden cross = bullish momentum
GBP - H&S formation .retest of neckline here and we go lower
JPY - @ major support here and is looking to hold
EURO - has an IHS formation so one must be careful here ........but the right shoulder looks circumspect here and given the concerns coming out of Italy and the Finmin meeting being cancelled on the morrow ......EURO is going to struggle to get higher??
Reports are already coming out that no substantial plan has been agreed upon, and several politicians have down played the meeting.
USD/CAD move higher yesterday signalled early US dollar strength .......U/C hit the neckline and moved higher = US dollar strength confirmation = EURO sell off as U/C and oil are intertwined , OIL/EURO are intertwined
so in theory
OIl sell off = EURO sell off = USD/CAD rally = FTSE sell off due to commod index
there is intermarket analysis for you folks, and this will help the New traders learn how to understand the markets.
This is just an insight into how I trade , there is much more to teach and learn.
Just ignore the critics New traders ..........learn from someone who trades the markets on a daily basis and is held accountable for every trade he makes in real time with real traders , day in day out with greater than 90% success.
If there is anyone else out there who can do that , then I will retire and subscribe to them......make life easier for me !!
