A neutral few days

A neutral period looking for re-entry opportunities, but nothing this week.

USD CAD seemed to take-off only to pull back to the weekly support line. An excellent buy opportunity now – or a few pips lower.

Brent crude oil is at a position – that we projected a few weeks ago – that is ready to short. We will take shorts from the hourly chart (rather than the daily).

Silver provided a reasonable re-entry short opportunity on Thursday. Missed that, but a second chance may present itself again this week.

Gold has dropped just over 30 pips from where we took profits at the end of last week. Now likely to fall a further 20 pips before meeting a monthly resistance line. If we get a retrace, we will take a short as gold has the potential to drop 70 to 150 pips over the next few weeks.

We have listed a new page called strategies. This is written (and added to and changed most days) in a short format – as if we are preparing the ground for a computer algorithm. Therefore of little meaning to a non-trader. However, it provides an idea of the precision involved.

Published by Day Trader

I flew fast jets for 30 years of my life. I've traded full-time, more or less, for the last ten years, initially from fundamentals and over the last few years as a dedicated day trader. I live on the North Norfolk coast.

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