It’s after 9, I’m tired, and I didn’t prepare yesterday (Monday). That said, I’m trying to stay positive, feel confident, and remain open to the opportunities the market provides. I’ve been late in the past. There were several days I was late during the few months I was very successful, so this is okay. I need to just put my nose to the grindstone and look for opportunities, and that’s exactly what I’m going to do. I’ve got coffee, I had an alka-seltzer, so I’m ready to go.
Equities are on another down-day today. Last week, I was considering this a simple correction in a return to the upside, but looking now, it certainly looks more like a return to the downward momentum we’ve had since, essentially, the beginning of the year. I don’t know how the correlations have been holding up, but if there are any, it’s certainly a risk-off day (USD, JPY up AUD, NZD down)
USD – L – broke out strong today, hopefully I didn’t miss too much and there’s still some opportunity for me in USD
CAD – L – On a nice, strong up-day today, but is up against some resistance from mid July. I’ll look at this long, as it may be pushing through on individual charts
EUR – N – This was weak for a long time, but had a rally pretty much all of last week in which it made a new high. It’s pulled back some since then, but nothing that’s suggested a return to the downside; but I also don’t see much of a confirmation of a reversal, so I’ll hold off
GBP – N – This has been pushing down, largely, this entire year, but is on a strong up day today. Looking at this and EUR, something must have happened to cause the spikes; and maybe I’ll look to find out in a bit, but from a price-action perspective, this looks like it could be an anomaly and there’ll be a return to the downside in a couple days. Regardless, I’ll hold off for now.
JPY – S – JPY continued to push down after that spike a couple of weeks ago, and has now broken the support area that had held up prior to the spike. Again, hopefully I didn’t miss too much here and can still find a good opportunity to make some money
AUD – N – There’s a lot of whipsawing here. I could pick a direction, but I could see getting stopped out pretty quickly. I’ll hold off
NZD – N – There’s a lot of whipsawing here as well, and this is within more of a base (I could’ve picked a direction in AUD, but this one, I don’t even see enough to do that). I don’t love it so I’ll hold off
CHF – N – I could make a case for some strength here, but looking at just today’s candle, there’s been some upward movement and some downward movement but price is sitting near the open. There appears to be a lot of indecisiveness, so I’ll hold off