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Friday, December 16, 2016

WHAT A STOP HUNT LOOKS LIKE

ELMER FUDD GOES STOP HUNTING


Ok, it’s Friday before Christmas week, Noon hour in New York and USDJPY is limping along without yet having achieved its 40 PIP threshold from last nights open. For all practical purposes, a dead day … until … can you say “stop hunt” … maybe some dealer desks in far off lands which shall remain nameless needed to do some mistress Christmas shopping and needed some extra last minute cash … just sayin’.

Anyway, here’s what a stop hunt on the M30 looks.

What tells us it’s a stop hunt; easy peezee, after the carnage there’s nothing but … crickets.

And of course, while USDJPY was getting face planted, gold was busy squeezing the “sure thing” shorts; yup, a $7 scream job up to the RM=1 exhaustion line before rolling over and now heading lower once again. On a dead day, “you sure can’t beat fun at the old ballpark now can you?”

The last piece of news making events for markets comes Monday night at 10 P.M. New York time when “Peter Pan” Kuroda & crew from the BOJ enlighten us with the latest and greatest news on monetary policy from Japan. Given their track record of late, grab the popcorn and enjoy all the red and green on your screen as the news breaks; “Yes, I know I can fly, I know I can fly!”

Lots to do this weekend, and getting the USDJPY tutorial finished is my top priority; it will be up Sunday night sometime. Until Monday …

Have a great weekend everybody!
-vegas
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!”

 


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