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.
USD/JPY...is attempting an ORL day by closing under 103.97.
(over 96.21 Futures).
This pattern is the same pattern as the Spu's.
Spu's down = Yen rally.
EUR/USD...is putting in an ORH day with a close over 135.84.
It's currently at short term Point & Figure resistance @ 136.70/
As with so many instruments, the moves have been rapid with big swings going from support to resistance in very short time frames.
Before I left for a head break we had resting orders to buy dollars against the Euro and Yen. We have not put these resting orders back in.
When deciding whether to leave an order in, it's as much about how the market is getting to your dream level as when.
Since the Bonds are leading the board I want to be very patient with buying Dollars for a longer time frame trade against the Euro & Yen.
The 30 yr. Bonds are leading all instruments.
Bonds rallied before the Equities broke.
Gold...needs a close over 1265 for me to get interested.
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