Friday, July 10, 2015
The market sold off on Yellen's talk about an interest rate hike later this year. We already knew that, so this selloff is nonsense. Internals are strong and I doubt anyone was surprised by Yellen's comments and will want to get heavily short before the weekend. I'm getting long at 2069.
Thursday, July 9, 2015
Wednesday, July 8, 2015
Keep it simple everyone. There's a nice clear triangle finishing in the USDCAD. Since triangles are consolidations before a continuation of the previous trend, we know this triangle will result in a sharp move up soon. To make sure it's not a B wave that will thrust lower, I'm looking to get long at 1.2765 with a stop at 1.2740 and taking profit at 1.2790.