Rob Did It Again With Last Week’s Trading!

Okay gang welcome back. I hope you’re having a fantastic weekend. Boy what a great week last week. Let’s go ahead and highlight a couple of things to know and to remember. First things first as it relates to the Euro, it is still in a down trend here as you’ve heard me mention. It’s short of breaking above the 1.25 level for a very short term intraday trade. I really have no interest in long side activity on this since we’re still in the down trending channel. Certainly not swing longs just yet. We’ve got to get back above the top end of the channel in the 1.2550 area to even consider those swing longs. We are watching those a little bit more and still have that positive divergence cooking here. Net I’ve been focusing more on the short side with the Euro rather than the long side and that’s served us very well the last few months.
As it relates to gold, the key level that I’m watching for gold next is going to be the 1240 level. Gold has a couple of things going on, particularly on the daily chart you can see we have a positive divergence forming here on a weekly basis we can also see positive divergences forming here. So what I’d really like to see out of this given that kind of underlying bullishness theme, I’d like to see us get back above that 1240 area and start looking for some nice long side trades. I won’t look for any further short side trades until we get back down below the 1192 area and I would really be kind of timid with those compared to long side trades above the 1240 area.
What can you say about crude oil? I’ve been talking to you guys about it for months and why we’re looking for longs starting way back while we were looking for shorts all throughout the summer, the breakdown points with the inventory retracement bars, and how important that was to the process. We hit the $60 target that I had most recently, but what I’m really looking for going into the next week going in at this point I’m no longer looking at this from a swing trade perspective for the moment. I want to see if we’re going to start getting some relief rallies, identify some fresh inventory retracement bar sell signals to short below otherwise it’s just an intraday short only at this point until I can set up a fresh sell signal for a swing trade. Nonetheless it’s been one heck of a ride to the downside here. You all have been hearing me talk about that for months with really great stuff.
The DAX went ahead and this is something I talked to you guys about a few weeks ago as well and we’re really seeing that come to fruition. If you recall with the DAX, my concerns were particularly on the weekly chart, and what I mentioned with the DAX was that we had a very strong negative divergence taking place, and what we had here was this. So you see we had roughly an equal to higher high in price, but my indicators were making much lower lows. We were looking for that big reversal as you recall in addition to the U.S. stock index futures which we will talk more about in a moment.
First with the bonds, my bond traders have been going nuts loving these bond type trades. Let’s take a look at those on a daily basis here. If you recall the various breakout points originally it was green then we were looking to get through the bottom end of the black line here. Those were the entry points for fresh longs into the bonds and you can see since we’ve broken through those different levels we had a gotcha trade going into yesterday’s closer. Everything just continued to drive this thing higher. There was fresh buy after fresh buy signal, which caused my bond traders to be really excited in the Live Trading Room.
Stock index futures, just go ahead and watch the past several days of videos and certainly if you’re in the Live Trading room, with that and crude oil. Even here in these free public videos I shared with you how we were looking for the sell signal that we’ll lock in on the core trigger because you take that along with the fast trigger then we go ahead to really accelerate this to the downside. As you can see since we locked in that sell signal it’s just been firing off like crazy to the downside. Fantastic trading again this week. Fantastic market moves, which all of this we talked about which gives you all a leg up.
In addition to that don’t forget that yesterday was a huge event that we had with Hubert doing a great job and all of our speakers we had a great event yesterday and I made you an incredible offer to be a part of something special here. What I did was give you all the opportunity to make $97 and for that money you get 2 simple setups Rob uses to win trading competitions and has helped him win many times let alone what I do in the live trading room constantly. You’ll learn the entries, exits, profit and stop management, and the settings for the indicators I use to identify those setups. Really fantastic stuff and what a great way to go ahead and get more involved with what we’re doing whether you’re in a live trading room, outside the live trading room, think about getting in and you’ll want to use these on your own.
What a great opportunity. All you have to do is go to www.becomeabettertrader.com/setups to go ahead and get that video for only $97 and you’re going to love it. You all have a fantastic weekend. I look forward to seeing you all in the Live Trading room or with our nightly newsletters. If you follow this offer you will already be with a leg up. You all have a great night. We’ll see you shortly.

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More Great Live Trading Today And More To Come Tomorrow!

Okay gang welcome back, first things first if you recall in Tuesday night’s video I share with you the whole...

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