On August 3rd, August Hogs traded at a new three month high, reaching 87.57, before reversing and closing as an “outside day” price bar with a negative close. The next day, the market collapsed and closed limit-down. Could the time and price of this significant high have been predicted? To answer this question, lets take a look at the ‘action/reaction” time and… read more
Monthly Archives: August 2010
Unemployment [8-6-2010]: Futures News
NEW YORK, Aug 6 (Reuters) – U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery. KEY POINTS: * Non-farm payrolls fell 131,000 the Labor Department said on Friday as temporary jobs to conduct the decennial… read more
Swing Trading Strategies – Does the Canadian dollar still have room to run? [chart]
The Canadian dollar finished Tuesday’s projected reversal/reaction day (projected by using the reverse count form July 9 back to the low on June 24, with the forward count beginning on July 20.) with an “inside day” price bar. An “inside day”, on a reversal/reaction day, is considered a continuation pattern. Wednesday’s price action is also… read more
Swing Trade Strategies – After completing the bearish reaction cycle, what is next for the Gold? [chart]
Gold completed the long-term bearish reaction cycle when it reached the downside target objecitve of $1156.90 on the July 28 reversal date. This date had been projected 7 days earlier, after Gold had completed the TC (trend continuation) pattern with a lower close on July 16. Using the newly confirmed TC pattern, a reverse/forward count was done with… read more
Swing Trading Strategy – Wheat hits target objective on predicted Reversal date. What’s next? [chart]
On June 29, September Wheat traded lower and closed at $4.57. This close was inside the 60% buy window that had began at $4.58 1/2. The following day, Wheat opened steady before surging higher and closing above the previous three closes. This higher close confirmed the June 29 low as the (D) pivot low. At the same time,… read more