So we are heading into February, which is one of the weakest months for the Dollar and the strongest month for Oil during the past 10 years.
Summary:
4 Hour Action:
- Gold putting in a triple top and expanding triangle
- Precarious gaps observed in the Equities MP structures
- Natural Gas putting in a midstream “M” - watch for breakout!
- Crude happily in range, watch for February breakout
- GC is clearly inverse of Equities (confluence)
- YM & ES clearly returned to basecamp
- NQ stair stepping higher
- NG Taylor series suggests long tomorrow
- CL in range
- GC creating a triple top on Fib 50
- GC possibly putting in an expanding wedge
Trade Review:
- Starting new ledger
Carry Over Conclusions & Today’s Ruling Reason:
- Meeting tomorrow morning - No trading
- Stay safe, FOMC is meeting
- Stay safe, Trump news continues
- Revisit possible pull back levels
No comments:
Post a Comment