While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
AUD/NZD…looks to have bottomed and is putting in an ORH week.
USD/JPY…is trading at the low end of the range for the past couple of months, right where it went out last week.
This can take until after the Wed Fed minutes to play out into the BOJ meeting.
TAN…let the stop work. if it opens lower next week I’ll likely pitch it waiting for a deeper correction.
?Italy is trading near the top of it’s down channel?. It will be interesting which way it goes next week. Price rejection or power on through for a new leg up?
I added some UVXY (Double long Vix) @ 10.02 for some downside protection.
Margarita Time…have a great weekend.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.