The markets have not responded to the global changes in terms of the war pressure we seem to be under at the moment. Every day we are bombarded by news of explosions, bombings and attacks (we just had a man kill his estranged wife and some kids in San Bernardino today and that has NOTHING to do with terrorism or global problems, but still a reflection of the high-pressure, often violent actions here in the states).
My real point here is that I don’t believe the markets are concerned with any of it. Gold has hit a wall in price. The stock markets around the world are acting as if there is a big party in economies around the globe, when we know that is NOT the case for most people. We have a rather unique time in history here guys. Take a long look around. This won’t last forever. But, as traders we have to use what is going on to our advantage, instead of forcing the market to fit what we think will happen based on our personal bias.
Sooo, my point is this: Ride the equities long even though you think they should collapse, trade gold short if it drops even though we hold physical for the big climb to come, and trade oil from areas we know, and hopefully we will get some good trades out of it, even though we know this market is “fixed”.
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!!
Today’s news landscape is very, very manageable when it comes to financial news. The GBP will have some early news, so be careful in the forex market. The German ZEW Econonmic Sentiment can always move the DAX and the FTSE so be careful pre-release. I am looking to potentially trade after the release. The NY session should be quite easy to manage.
OUTLOOK BY INSTRUMENT:
GOLD: Ironically, my view on gold is the best place to be is short, IF and ONLY if we get a move below 1248 in an active market. I am looking for a short signal below that level , as I think it is very reasonable to see gold back at 1215 soon and that could equal some good short trades. The s/r above us is so “heavy” that it might take a significant catalyst to get through it higher. So despite gold being overall bullish, I am looking for the short trade here.
OIL: We are clearly back in the range for now, so it’s a just a matter of finding that good long signal. We have great s/r areas that are familiar territory (like 52 and 53.13 and 55) so we simply have to hope oil re-tests one of them and gives us a long signal. I have zero desire to short until we get to 55 again.
INDICES: Same plan, keep looking for longs all the way around.
LONDON OUTLOOK VIDEO: