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.