Where The Next Market Move Could Come From

Welcome gang, Jordon back here with you. Just to talk about a few key points before we start our trading on Monday. First off, I want to talk about the 30 year bond. What you’ll notice is we have officially locked in that three musketeers that we talked about on the long term chart on the daily. Here comes the weekly, we have it locked in here as well. So, we will be kind of looking for shorts to fill in some of this space to the weekly here. The only thing that we will be keeping in mind is this stochastic as it if completely buried at this point. As well on the daily, because of news that came out on Friday. Let’s keep an eye on that and we will be looking for shorts.

Now, as we move over to gold, you’ll notice right away that gold has managed to break out of its kill zone finally. The top, bottom, converging on each other, coming back and forth, the rapid price action has finally ended in a move down to the 50 here. We will be looking for shorts in the 2017 area. Anything before that is going to be quite difficult as shorting into support typically is a bit tougher since gold is kind of a whippy instrument anyway. The space in here isn’t really viable. Below this port though, you are going to notice that there is quite a ways to go. There is some congestion back here so we will be keeping that in mind. But this is going to be a high probability area.

Moving on to the Euro, we are still finishing out this whole consolidation phase. It almost broke through, it actually hit the 20, came back, and stayed in its own little kill zone here. I’m looking for shorts around the 1.1280 level. Then, possible longs over this 20EMA right around the 1.1550 level. The reason is, as it consolidates in this little zone, the major moves aren’t really going to come from being inside this zone. The major moves are going to come from jumping outside the zone. If it comes above the 20 and hold the 20. If it comes underneath this consolidation area, then we will be looking for shorts. But in-between here is going to most likely be low probability trading.

Now, the stock index futures have been just all over the place. After news came out, it was almost as the market was completely exhausted. It was not ready to make much of a move anymore. They went up, they went down, and it ended with a bunch of indecision. So, the way that we are looking at this right now, is we see the stochastics on all four of these charts are not only high, but they are kind of locking in these mini levels. So, they may need to bleed off on Monday. So we are going to keep aware of that. If things really start to take off, then we will start looking for longs above these candle wicks from Friday. So, if we get some new highs, we will be looking to take the new highs higher with longs. if the market looks like it wants to bleed off, we will be looking for lows underneath these inventory retracement bars. We will be taking that one trade at a time.

Rob will be back in these videos on Monday and in the trading room where we will talk more about small lot trading. So, I look forward to that. And I look forward to seeing you on Monday in the videos. Take care.

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