rss
email
twitter
facebook

Tuesday, December 6, 2011

Market Update: Dec 7, 2011

Dec 6 for US still.

Lesson learned today, despite what you are seeing stick to your initial point of entry.

Today entered USDCHF at 0.924 and prices already shot up to 0.927. Originally I was thinking below 0.927 as a good entry point but was worried I wouldn't get the fill. I roughly have a 100 pip margin until a stop is triggered, so I should be ok.

DX is ideally inline with my trade, but EURUSD still under pressure despite DX continuing to keep ST pressure under 78.7.

There is a dislocation with ES as well with prices failing to scientifically push higher. In my trading notes, I point out that a bigger correction for equities is needed first before a bigger move up. If that is the case my USDCHF is in danger in the ST. YM (mini dow) and NQ (mini nasadaq) confirm bearish pattern development on the ST daily charts.

CL (WTI) is pushing up but still is below ST resistance. Bigger catalyst are needed for a full risk on scenario. The pressures from the EU and uncertainty looming is still allowing for risk aversion to linger and cause this relative range environment.

Ideally EURUSD needs to push above 1.34 and ES needs to some how push higher back into the 1270 range. if my USDCHF doens't work out I may have to 1) short ES ST or 2) Buy ES at more attractive levels.

Ideally a hedge may work better.

More tomorrow. liquidity is a bit slow

Tommorow:


  • GBP USD unofficial estimates
  • NZD rate announcement
  • AUD employment situation
Consider GBPUSD position before THURSDAY

No comments:

Post a Comment

 
Disclaimer
This Blog has been developed by Analyze Capital LLC, and as an independent organization we provide “AS IS” information without warranty. The ideas and opinions expressed by the contributers of this blog are personal and do not represent the actions or policies of Analyze Capital LLC. The contents of this blog do not intend to assert recommendations or to offer advice of any kind. We are not responsible the consequences, be they gains or losses, that may result from using any of the information from this blog.