Trading the NFP

Chart of the Day – Gold – (October 13th, 2021)

For weeks it has seemed no matter what happened gold went nowhere. But today was different! Gold broke higher out of a month long consolidation and looks to have developed an inverted head and shoulder pattern. The neckline was at the 1782 level and we […]

Chart of the Day – IWM – (October 12th, 2021)

The mid cap stock market is represented by the Russell 2000 (or IWM) has been in a tight trading range for all of 2021. That range is tightening in a triangle as the 200dma weaves inside the consolidation. This is a receipt for a big […]

Chart of the Day – USDJPY – (October 11th, 2021)

The USDJPY broke higher out of a long term consolidation. When a move like this happens people want to know: 1) Will it continue? 2) Should I be a buyer? Today, I don’t think the answers are very straightforward. To address the first question I […]

Chart of the Day – DXY – (October 7th, 2021)

It’s only fitting ahead of the NFP tomorrow for the #DXY to have a setup against key resistance. The US Dollar is trading just shy of the 52 week high put in last month and we have developed a bullish wedge. The reason why this […]