Posted on April 29th, 2008 at 9:25 AM
We recently conducted our Create a Profitable Trading Plan seminar in Las Vegas. This is the two-day seminar where we begin to delve into many of the details of money management, alternate trigger techniques and more. Below is the group picture we took on the last day. Thanks to everyone who made it out for this great event!
Posted on April 30th, 2008 at 9:09 AM
Crude has finally broken some recent lows where we saw consolidation at a possible top. It is running into some key Gann angles at and around $120. The fact that today's trading fell below the low from April 24th is big. If we can get below the low from 4/18, we've got a real shot of significantly lower prices. We're at a wave 5 with Divergence in the Oscillator, culminating at resistance of the Gann angles.
Posted on April 30th, 2008 at 9:19 AM
Looking back to the AAPL post of April 17th, we were looking ahead to the earnings release on the 23rd. Now that the earnings have passed (at the culmination of both the upward and downward 1X1 angles), we can see how the market reacted to this crossing of price and time. AAPL, being above the 1X1 angles at the time of the news, reacted VERY positively, and has catapulted itself off this intersection into a full-blown Wave 3. Hopefully, those of you that follow this market were prepared for this from the post on the 17th.
Posted on April 30th, 2008 at 9:34 AM
The Daily EUR has retraced enough to give us two buying opportunities, an Elliott Type One Buy along with a False Bar Stochastic Buy. At this point we would place our trigger technique (Regression Trend Channels) on the chart and look for an entry. Remember, just because we have a buying condition should not buy unless the market starts moving in our direction.
If the trade triggers our ultimate target would be 1.6200 with an initial target of 1.5810 (this will adjust).
