While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
EURO...127.31 is today's ORL #.
A close below this level today will see the start of new weakness in the Euro.
The first support level is 126.90-96. This is also the dowwnside closing pivot for more weakness.
AUD/USD...I just sold a few Aussie which is a Risk Off trade matching the 50% retraces in the Equity Indices.
I will not give this much rope since I am selectively Bullish the individual equity names.
I'll look at it going into London's close, if it doesn't start to weaken I will exit the trade.
Looking for the Aussie to rally close to 89.00 again before it can top out.
The dollar either strengthens from these levels or it goes back to chopping around.
Silver....price action over 17.70 resistance is needed for a good move higher.?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
