Hooray!!! (yeah right…….the WORST part about running your own business). In America today, millions of procrastinators (or ppl trying to save up money to pay) will file for extensions or by the deadline at midnight. However, I’m not too sure it will have any impact on the markets, but thought I should bring it up anyway.
From the looks of the markets on Monday (with only limited markets open), we are seeing a nice rise in equities prices as well as a fall in gold. I don’t see the two as directly connected though. Gold has hit a PERFECT area for pullback, so hopefully we can make something out of it. Indices if following behind the DOW should be headed higher and right into bullish territory again. We will see though. Oil did very little but I am going to take a shot at a forward order anyway since I don’t get to trade as much during NY as before.
We have a webinar today. Details below:
Please register for Triple Threat Tuesday London Webinar Series on Mar 28, 2017 12:30 AM PDT at:
Join the Triple Threat Trading Team as we attempt to find trades, discuss the market and our beloved approaches. Starts 30 minutes after London open. Come and join the party!!
News is easy this week. Now that we are starting the week hopefully we have moves though.
OUTLOOK BY INSTRUMENT:
GOLD: We have pulled back to the desired 1283-1281 area and now I would like to see a long trade setup from here. WE have two trendlines as shown in the video for confirmation with the higher one confirming initially at 1290 and the lower one confirming essentially above 1285.75. Targeting 1300 if that happens. We also have a pretty good look at the short scenario as well. I would start shorting should the market dip below 1263 although I would NOT do that today because it would require such a big single-day move and I’d be worried about pullback.
OIL: As stated above I am going to long at 52.00 with a forward order. A medium-sized forward order. Otherwise, I will be looking for a bounce from the same area to produce a signal to go long. I won’t consider shorts unless/until we get back below 50.
INDICES: Same old story. Long if we get the signal(s) and the moves.
LONDON OUTLOOK VIDEO: