Same expected outcome, different reasoning.Cable fails to hold 15900+ level.1 is inside bar, we have a strong support level here of 15790-800. It holds at first. 2 is out side bar and close below this level.Stop is above this bar. Entry 15780.
USDX DROPS As Feds message was not lost in translation as it announced a fresh dose of treasury purchases from the principal payments of Agency securities. The resulting selloff in the US dollar and bounce in equities reflected the markets clear understanding that QE2 has been unveiled. ======= THE Yin Yang relation of the YEN-YIELDS IS ON A TEAR as the low yielding Japanese currency benefits from the ongoing damage in yields on a full-fledged purchase of US government securities. This is a clear departure from the unusual relationship, whereby the yen decreases during improved equities ====================Although equities have improved on the Feds willingness to adopt fresh liquidity injections, it remains to be seen whether the market has gone too far in shrugging the Feds clear economic downgrade. ===========15 months after its initial announcement to purchase US treasuries, the Fed recycles Agencies principal payments into new treasury securities. Such outright purchases of treasuries could extend the yen's WIN-WIN scenario, whereby falling yields as well as falling stocks are both boosting the currency.=====SP500 has yet to close above its 100-day MA, currently at 1125. Watch Ashraf on CNBC-Europe Wednesday at 5:10 am GMT, 6:10 BST.
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By ITMS News on August 10th, 2010 2:34pm Eastern Time
Federal Reserve policymakers reports to take a small easing step given that the recovery is likely to be more modest in the near term than had been expected. The Federal Open Market Committee announced that it would reinvest maturing mortgage-backed securities back into the market so that its balance sheet does not shrink.the Fed kept its benchmark interest rate at a record low level.
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By Nicholas Santiago on August 10th, 2010 3:10pm Eastern Time
The GLD spiked higher after the FOMC announcement this afternoon. The spike in the GLD came after the Federal Reserve Bank said that they would leave rates unchanged and remain accommodative. This means that the U.S. central bank is likely too continue to print more money and flood the system with liquidity. The GLD will have intra-day resistance around the $118.50 level.
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BEARISH STOCHASTIC DIVERGENCE in AUDJPY as the cross stands vulnerable to prolonging losses on deepening risk aversion, especially after Chinas July imports were slower than expected. The daily AUDUSD chart shows a rare bearish divergence in slow stochastics, whereby the price action remains consolidative despite a decline in stochastics. In such cases, price have often turned into the direction of the oscillator (stochastic). With AUDJPY currently testing the July 6 trend line support (78.10), it risks retesting 77.30-35 support, a break of which would spell a retreat to 76.20s. Upside seen capped at 78.50s.
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I didn't take either of these, however they are good examples of inside bars playing out.At the Top we see a pin bar close below resistance. then we get an inside bar (i use wick) the 3rd bar is outside bearish. you could go here on break of the previous candle low or wait for more confirmation. the next candle is inside bar again and rejects resistance level again. I place my stop above the the resistance level circa 15995 sell 15947 50 points approx. I am looking for 2-1.This is calling a top so the better trade for me is the inside bar this morning. We are with the trend, and the last inside bar played out. This trade is almost at 2-1 now
Traders often talk about trade entry, trade management, indicators, fear, greed and a host of tools that are designed to aid traders. It’s very seldom that traders discuss the most valuable tool a trader has…your body! This series of articles, will explore the effect trading as a vocation and lifestyle has on your body and what every trader can do to maintain the health of this most vital tool.
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