As posted Tuesday for the S&P’s
1. Long Red Candle Imminent. It happened Thursday.
2. Top and short at 3233.99, dropped today from 3223.44.
3. Target 2736.59 and 2661.62
4. Must break 3054.55, 2913.95 and 2845.35.
5. Lows 2999.14
6. 200 points to target
6. Trade runs +224 Points
S&P’s only offers normally 1, 2 pr even 3 big trades per year and upon review, we hit every big trade since 2018. As posted for inspection.
EUR/PLN As Posted May 31
Long 4.4267 and 4.4114 to #target 4.4498.
Lows 4.3718 Highs 4.4498
Trade Ran +384 Pips from 4.4114 and +780 pips from 4.3718
Forced to add 1 Lot and trade duration extra 3 days
Long 4.4574 target 4.4957.
Trade runs +276 Pips
Short 4.4957 to target 4.4766.
Short anywhere or 1.1304 and 1.1326 to target 1.1063.
Highs 1.1422, Lows 1.1274
Entry off 96 pips, and profit 52 pips
Strategy: EUR/USD began last week and this week in deep overbought. EUR/USD remains deeply overbought. We maintain a short only strategy until target achieves.
I’m looking for today’s close around 1.1230’s. This means take profit for interested at 96 pips upon 1.1230’s close.
Add additonal lot at significant overbought highs at 1.1400’s then profits will be significantly higher.
Day trade shorts today at 1.1357 and 1.1349 to target 1.1243 and 1.1259 until 10:00 am EST. Significantly lower for EUR/USD may wait until after 10:00 am.
Short anywhere or 0.6543 and 0.6518 to target 0.6293.
Highs 0.6584, Lows 0.6394
Entry off 41 pips, Profit +49 pips.
A perfect neutral or uncertain price market.
Looking at close today around 0.6373.
Strategy. Maintain short strategy until target achieves particularly when upper end currency EUR/USD is overbought as well as NZD/CAD.
Short anywhere or 0.8747 and 0.8759 to target 0.8568, caution 0.8594.
Highs 0.8795, Lows 0.8714
Entry off 36 pips, Profit 45 pips from 0.8759.
Neutral or uncertain price market.
Strategy. Maintain shorts until target achieves. I’m looking at close around 0.8640 and this means + 100 ish pips for interested.
Overall, EUR/USD, NZD/USD and NZD/CAD began the week overbought and maintained overbought status all week. Worst trading market is overbought prices to trade more overbought or oversold to oversold because it forces add a lot and possible extra day or 2 until target achieves But add additional lot also means quicker profits from 2nd lot and either break even on 1st lot or hold both lots to target.
If 1 lot was added to EUR/USD at 1.1421 highs, profit today is +142 pips and +52 pips on the 1st lot for total 194 pips.