Update on USD/CHF

On Sept 11, there was a post on the USD/CHF...This is the link for that post..

This is the updated chart.. The play now is to protect capital by placing a stop at 91.50..

follow up on silver..

just a quick update on silver..i think what i labeled a strong support at 26.01, will not hold for as long as i thought ( about a month or two)....looks to me that we are just pausing before a final push lower within the next few weeks...the target currently in my opinion is around 23.6, but will fine tune it later...for now i think its wise to jump off silver at 32.70...

-------------------- Just updating this chart quickly... actually got to 33.50, but is now falling quick.. I think this will be our range for the next 2 weeks or so, between 27 and 33...With a higher chance of breaking lower eventually.. I imagine we'll get to around 18 - 20 over the next yr or so..

Silver and Gold VERY oversold

Even in the bears wildest dreams did they ever imagine a crash so powerful as the recent one in precious metals....So, what now...For Silver and Gold, i believe we have seen panic lows...26.01 on silver should provide enough support, for a move back up to the mid 30's.... for Gold, the 1532 level is also now a strong support... Buys should be as close to the support levels as possible, with the stops just slightly below..

For example on silver, stop should be at 25.70...while the buy order should be between 26.5 - 27.0

In the last post, the buy recommendation on Gold at 1650 did not work, but the stop was there to protect, and make sure the damage is minimal...

At the highs, before all the mayham started..we had this post on the metals......

Gold - bounce play

Gold is in oversold territory here at 1665..Good play here to go long for a decent bounce, and maybe even a retest of the highs...I was bearish on gold at the 1900 levels, and still am bearish in the medium term, but for now i think the right play is to go long. Stop loss is a must under 1650, and if the play works, stop loss should be raised gradually..

------------Stopped out. 

Day trade, long Crude...

Crude Oil is clearly oversold today, as most commodities are crashing. Often, the best opportunities occur in such situations when a risk asset has moved too much in one direction..Timing is the key, a clear wave count, and of course, a stop loss.

---------------Updating this play on Crude... I think Crude oil, over the next few weeks will get slightly under 70, for a great buying opportunity..details later...

Gbp update

Quick chart on the GBP/USD...will see what happens at the specified level...

---------------------Updating this play on the British Pound.. Never got to my 1.5260 level exactly, but very close...I think the trend on risk assets (including the GBP) is firmly down in the medium term ( few coming months). The play is to short rallies.  I think around 1.59 - 1.60, it would be a good idea to start building a short position.  Ultimate target is around 1.4580 in my opinion, sometime in the next 2-4 months..

euro update

This is a quick update on the Euro, the short term trend may be up, but i think within the next few weeks we will likely see panic selling and a major reversal somewhere below 1.30.. 

Short play on USD/CHF

Its always advisable to trade with the trend, however when using stops, its ok to try and play counter trend if you are confident of a level... Almost a month ago, we were trying to see where this cross might reverse..Amazingly, it has gianed almost 2,000 pips in no time at all. Now is a good time for longs to consider taking profits, or tightening stops.. Im aniticipating some correction from the 0.9135 level, with a close stop just in case..

Euro at support...but i dont think it'll hold

The Euro has reached channel support tonight (monday Sept 11, overnight) at 1.3553, and chances are we'll see a some bounce from here, yet i dont think this will be the final low. I think the markets are due for a final flush soon, which should see the Euro reverse from a lower position (1.31-1.32)..


This is what im thinking for now,, will update soon..