The selling in the final minutes of Friday's session was so relentless that I assumed it was machine driven; programs set up to press harder as the market went lower. There weren't many people left around by that time on Friday, fewer of whom were looking to trade aggressively, but computers don't generally go anywhere for the weekend, and they can keep dumping right until 4:15 EDT. They...
Continue reading >>Good morning, Friends, on this semi-holiday and quarter end session.  A Swiss National Bank official, apparently finding the market too boring, mentioned that the SNB will be adding more Sterling to its reserves, presumably at the expense of its vast Euro holdings. While he noted that this will likely take place over the next year, the FX market tends to discount all news immediately, so...
Continue reading >>Todd's video updates are always worth watching; there's a ton of valuable information in the course materials, but observing while he puts the techniques into practice helps to build the confidence and patience that are necessary to turn knowledge into profits. The video for September 26 went beyond the 3-minute charts that are TradingConcepts' bread and butter, as Todd took a look at the daily...
Continue reading >>A quick thought on how embedded patterns found in nature can also be seen in the charts..... ...
Continue reading >>Traders, including some very large ones, were not well prepared for yesterday's combination of Operation Twist from the Fed, and a soft Chinese flash PMI for September, which came in at 49.4 after an August reading of 49.9. When China sneezes, the Australian Dollar catches pneumonia, but only the safe havens of USD and JPY offered a refuge. The action is pretty evident from the charts; I just...
Continue reading >>A quick video showing the three Bearish patterns in play and potential targets for this move. ...
Continue reading >>