Just picture Gold, USDJPY, & maybe DOW30 as the “red states”, and everything else the “blue states”; this is where trading is at today. As today’s blog post title says, the USDJPY manual [2 parts: components & implementation] and the MQ4 file are available for viewing online and/or download. The tutorial on USDJPY I’m not quite finished with yet, and will follow in a couple of days to maybe this weekend.
Turning to gold today … well, “Italians gotta do what Italians do best; errr, change governments as often as women change shoes.” … no surprise really Renzi is on his way out, although the margin of the “no vote” was larger than expected … of course, this gave the Chuckleheads in Asia a perfect excuse to rally gold into the 1180’s so they could buy the high, which they pretty much do at the start of every single frickin’ day anyway … so, it makes perfect sense some hours later to see gold in the 1160’s .
An hour into this and it’s total crickets … both sides of the dealers order book having been wiped out yet again on “news” from last night, I’m wondering who is left to play today? “Plunge Protection Teams” the world over, most notably Super Mario from the ECB, have made their presence known all night into this morning; welcome to the new paradigm of Central Bank Intervention where the only thing that matters is keeping the DAX30 and SP500 in green territory.
Starting next week, I’ll also start covering USDJPY just like I do gold, but I want everyone to be able to read and digest the tutorial that is coming shortly first; this way, you’ll have a better understanding my thoughts on the pair and how it relates to my trades. Today, though, some excellent trades early this A.M. into the gold open; and a little after this, we got an M30 trend change that “nailed” it from the USDJPY short side. All in all, a good JPY trading day.
Gold continues to weaken under the daily calculated white line, with U.S. equities powering to new all time highs [DOW30], while the Dollar strengthens and gold sells off … maybe somebody should call Asia and tell them they can buy their gold cheaper in New York every day?
Noon time in New York [“If that isn’t a title of a song, it should be.”] and gold has yielded no signals via the algorithm … nothing but regrets for anybody that wandered into this mess today … and I’m certainly not going to even think about this stuff this afternoon … dog and I are outta here … later, will be working on finishing the tutorial in USDJPY. Until tomorrow …
Have a great day everybody!
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”