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Corn - Leaning Towards Nice Long TradeI feel corn is an easy trade at moment. If we look at 4.29 as a kind of average way point at the moment. If it shoots above that with more news of more crop issues in US, look for an overbought RSI to short or jump on the long train if feel confident. There are uncertainties of the amount of acreage planted, and extended heat causing further crop damage, but there is a good harvest in South American (from my understanding) But if cooling this week ahead, and crop acreage isn't as bad as people thinking, could be a price breakdown below $4. Basically, prices below that way point of 4.29 I wouldn't short, and above that I wouldn't long. I want to see some fundamental reason for long or short. Though if wanted to place a position at start of week, I would open a long with low risk equity position. I feel that risk is to upside at moment, with some bullish news easily pushing to $5. Though over this, demand side reduction could occur, so if it gets there, a short position should be considered. Unless some overly bearish news, I don't see any huge price drops, and see support around that current $4 - $4.29 level, I see this as an easy long trade (unless fundamental breakdown)
OANDA:CORNUSDLong
by KevinOrchard
Gold Playing Fib Awaiting NewsGold is playing to recent Fib levels on the 4HR. Waiting for Fed cut news to see where it goes. Personally feel the fed cut is priced in, a 25 point cut maybe pop and drop below current levels, but 1400 psychological support - and 50 would be a pop and hold at higher level IMO. At the moment if RSI gets above 70 looking at short, but any long am happy to sit out as feel risk to the downside, even if there;s a short term pop. For those wanting long, watch the fib point bounces, could trade that through week before news hits. Overall though I am looking to short awaiting further indication to enter market through Fed Cut news (due to short term pop as above)
OANDA:XAUUSDShort
by KevinOrchard
[Gold] July 11, 2019 - ALuoTradingJournalThe gold was successfully weakened with its first resistance level near 1423 as analysed in the last journal. A upward trend went up to the price near 1423, and from what we can see in H4, we can see that the signal is hinting that 1427 was its high for today. This means that, if doing a short term position if it does not surpass the its current high. I will make stop loss at 1429 or 1430 with a tiny space, incase of a sudden spike pops up and go downward trend straight afterwards, but the final destination for short position will still be as 1440. Anything passes that, all short positions must stop from my point of view. For the moment, I will aim for the 1400 as my Take Profit. In long term, if price doesnt break 1440, I will aim 1360 as the first long term aim. During time will be getting those retracements. Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market in going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at own risk.
OANDA:XAUUSDShort
by aluotradingjournal
US30 - READY FOR BIG SHORT? It is getting more and more obvious that Trump's Government have used trade war as a leverage to propel markets to ATH or higher (SPX) to this point. However, it looks like "all masks will come off at midnight" i.e. Sunday before futures open to reveal that it all was a big disguise. Trump's approval ratings going into election year are at record low. One thing that boosts popularity is a nation's solidarity in the time of war (trade or real or both). Huawei was reportedly collaborating with Chinese army on R&D projects. Dead end for 5G in US. Trump will never lift its ban. Two crucial trading days left. There will be a lot of news from Government officials about upcoming deal with Xi, but you know that that is method that they use "pump before dump". Watch out... Tariffs, that is the only source of funds that can offset evergrowing US debt in Trumps opinion, not by much but to cap it somehow. If not Monday, but soon enough we will see additional tariffs in place on majority of Chinese goods. That will tank the whole market, but Trump will have a secret weapon to unveil at the time when everybody think that recession is at the door step - they will sell billions of Dollars to make it much more competitive among other currencies. That in itself will temporary boost the market. For now, Monday the July 1st is our climax point. We shall see... Good luck to all of you.
FX:US30Short
by maxaus
US30 - Trading near key support. Watch for more downsideObserved limited bounce on SPX from its 236 fib. I'm taking LONG position once again after yesterday's profitable day and handsome 130+ pip profit. We're getting closer and closer to decision date. Where market has to decide it's direction, UP or DOWN. Right now upside is limited by ATH @ 26950, so unless we pump hard on some definitive news from Munchin we're set to revisit ATH this week. If not, we are going to be capped by 26500-26700 range until Sunday futures open. I'm cautiously sitting on a fence right now leaning LONG with tight stops at 26470. TP is 26615. Not getting greedy. Just make some $$$ is enough in this choppy market.
FX:US30Long
by maxaus