Five-year bear trend in Silver may be coming to an end For the past five years Factor has remained negative on the Silver charts, calling for the bottom in Dec 2014. The weekly graph has now formed a 16-month falling wedge. This pattern can serve as a primary bottom based on classical charting principles. […]
Factor Moves are currently ongoing in:
A Factor Move was terminated in AUD/NZD. A Factor Move is developing in USD/SEK and New Zealand Dollars. This issue of the Factor also comments on the Soybean complex, Euro, Heating Oil, Canadian Dollars and global stock markets.
After falling from a high of 465 in Feb 2011, it appears that Copper bottomed at 193.55 on Jan 18. The advance on Mar 1 confirmed a H&S bottom. I have upped the initial price target to 231.90. An eventual test of the Oct 2015 high at 244 is likely. Factor is long one layer.
Factor Moves are currently ongoing in:
A Factor Move was terminated in AUD/NZD. A Factor Move is developing in USD/SEK and New Zealand Dollars. This issue of the Factor also comments on the Soybean complex, Euro, Heating Oil, Canadian Dollars and global stock markets.
After falling from a high of 465 in Feb 2011, it appears that Copper bottomed at 193.55 on Jan 18. The advance on Mar 1 confirmed a H&S bottom. I have upped the initial price target to 231.90. An eventual test of the Oct 2015 high at 244 is likely. Factor is long one layer.
I know my sweet spot. Every trader should strive to know his or her sweet spot. We should strive to only take a trade when the market set up is in our sweet spot. We should strive to avoid trades out of our sweet spot.
If you, as a trader, do not know your trade set up with great intimacy, then how in the world will you know if you are exercising patience and discipline?
Once you know exactly what your sweet spot is and is not, then the real challenges begin.
The real challenges for me (and it could be different for you) are different nuances of patience and discipline.
Factor Moves are currently ongoing in:
A Factor Move is developing in AUD/NZD. This issue of the Factor also comments on Canadian Dollar, New Zealand Dollar, Australian Dollar and U.S. stock indexes.
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Factor Moves are currently ongoing in:
A Factor Move is developing in AUD/NZD. This issue of the Factor also comments on Canadian Dollar, New Zealand Dollar, Australian Dollar and U.S. stock indexes.
Copper (daily chart)
There are several observations worthy of note on the daily Copper chart. First, note the premature breakout on Friday, Feb 26. The market broke out of the H&S bottom, but the rally could not hold. Following a premature breakout traders should be on extra alert and jump on a subsequent closing price breakout. Second, the advance and close on Monday, Feb 29 and especially on Tuesday, Mar 1, confirmed the H&S bottom. Both days served as buying opportunities. Third, for all practical purposes the target was met by Friday’s advance. I typically am conservative on determining “measured moves.” Factor is flat, having taken a crazy ride on the long side this past week.
AUD/CAD - This cross flashed a significant sell signal on Friday. I view short AUD/CAD as a potentially rewarding cross in the weeks and months ahead. This is a cross that can be traded in the spot forex market or using futures contract on a one-to-one basis, although such a trade would be over-weighted to CAD.
An interesting analog situation has developed in the S&Ps. Some technical analysts have declared that the current market construction is analogous to 2011/2012 and will be similarly resolved by a continuation of the dominant bull trend. I completely disagree.
Let’s examine the construction components of each period. The top chart is the S&Ps during the 2011/2112 period. The bottom chart is the current market.
