A neutral few days

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

USD CAD seemed to take-off only to pull back to the weekly support line. A good 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) as we feel oil is more easily managed from the hourly (rather than the daily) chart.

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 drop 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 a further 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.

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