With minimum downside objectives met, I have covered half of my short GBP/USD @ 1.5501 (+131 pips) The reason I covered the remainder of my short GBP/USD position is that the decline "looks" like an impulsive a - triangle b - impulsive c down to the 0.382 retracement of wave 3 (measured objective) and subsequent […]

Equity markets reversed lower last night following a stronger Monday morning opening. The rise from the lows continues to look corrective and I continue to believe the SPX trades towards my target gap close of 1632. While the higher beta indices have outperformed (Nasduck and RUT), the majors have struggled (DJIA and SPX). I still […]

This is why I try to stop short term speculative trades in overnight illiquid equity futures markets. The stop runs are plentiful. I prefer FX markets due to deep liquidity and no natural Fed and investor bias. I prefer to trade equity futures during the cash session with deeper liquidity. Anyway, I have learned this […]

Short GBP/USD at around the 50% retracement level of recent initial decline... What I'm seeing on the short term count... This is where we are now...