Trading is just like a battle; you never go in with just plan A. You always have a contingency plan and many times it's that backup plan that ultimately gives you the victory.
Let Todd Gordon of TradingAnalysis.com take you through his plan for the S&P 500.
Learn more about TradingAnalysis.com here.
Plan Your Trade, and Trade Your Plan,
Todd Gordon
Two weeks ago investors in the Aussie Dollar were on the receiving end of a sweet surprise. The official unemployment rate dropped to 5.9%, smashing analysts’ expectations. That suggested the Reserve Bank of Australia’s latest easing cycle, which began about a year ago, might soon be ending.
But before you jump on the Aussie bandwagon, you need the right strategy.
The truth is that the whiff of optimism had been long overdue for the Aussie Dollar. Even before the unemployment data there had been tentative signs of stabilization in the Australian economy.
Todd Gordon of TradingAnalysis.com takes a look at the SPY in today's market analysis.
The S&P 500 tracking stock SPY failed against Fibonacci resistance as expected and has bounced back into wave II resistance. We are net long in our portfolios, but seriously considering exiting and taking a low risk short against wave and Fib resistance. In the end, you can't know for sure what the future holds, only choose the most likely path with the lowest risk.
Learn more about TradingAnalysis.com here.
Plan Your Trade, and Trade Your Plan,
Todd Gordon
Todd Gordon of TradingAnalysis.com takes a look at the SPY in today's market analysis.
The stock indexes are selling off for two main reasons. First, the reality of higher interests is starting to set in. The market has been drinking heavily from the Fed's liquidity punch bowl. Is the party over and the hangover about to set in? Second, we are failing at a confluence of Fibonacci and Elliott Wave resistance. Here's how we're trading it with options.
Learn more about TradingAnalysis.com here.
Plan Your Trade, and Trade Your Plan,
Todd Gordon
Silver started October with a long bullish candle. The next day I wrote a post that Silver could reach higher highs, and long positions are favorable from the risk/reward point of view. The metal rocketed more than $1 from the posted price ($15.229), but caught the “bullet” in the sky and fell “dead”.
Below is the reconstruction of my chart from that post to see where the metal reached and what levels were broken back.
Chart courtesy of tradingview.com
Silver has managed to overshoot the distance of the green ab segment by 0.382 (at 1.382 Fibonacci expansion ratio) and has outweighed Gold’s progress that it couldn’t overshoot. The entire segment has fit into a single month of October from the trough to the peak on October 28th. Gold peaked earlier on October 15th and didn’t make new highs after that. Continue reading "Silver Update: Who Shot The Sheriff?"
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