As I write this down I understand that there are a lot of rumors and news flow out of Europe moving the forex markets sometimes inexplicably. Now here is a lesson to my subs some of who are already well versed with these things. Turn a deaf ear and focus on prices and relationships with bonds. While the rest of the trading world is jumping over to be creative about who goes bust first: Spain or Italy? The Capital3x subs have developed a cold blooded indifference to news and rumors. They focus and keep their eyes trained on watching, identifying and then finally checking the feasibility of a trade.
We have been having a super session with Captial3x indicators. Subs have requested me to include a few case studies on today sessions so here they go.
But right after we discuss falcon and gladiator (Capital3x indicators), I would like you take a look at ES (Emini SPX futures) and see where do we stand and how close are we too some big levels which could be tested in tomorrows close.
EDIT: Added during NY session at GMT 7:37 PM 30 May 2012
Before we get to todays charts (have got something interesting for you on the monthly), let just rewind on the Falcon and the Gladiator which are Captial3x bond market Indicators which have been under tremendous duress as markets have been whipping but arent we thankful that we have a tool which stands by us helping us.
Falcon EU went short at 1.247 and it is now down over 70 pips from the crossing on 29 May 2012. This is only the hourly.
The Falcon EU Daily is even more stark as the crossing happened at 1.2990. It has helped us determine the dominant trend in EU since that break. The short trade is up over 500 pips.
The Falcon USDCAD daily has given over 1000 pips on the daily charts without any problems. It is the sheer confidence with which falcon gives its signals that should be assuring to traders. And yet we do not label it as and EA or a robot.
We would like to use these as tools and manual indicators so that you become better trades. We could have easily made this into a robot and sold you a one time 1000′s of dollar EA but we instead decided to lease it to you at nominal charge cause we use these indicators and have had a tremendous success. We believe these indicators will change the way retail trades forex. Give it a few months.
The Gladiator records its seventh instant of 10 handle winner. The 10 Handle is a conservative estimate as too often we exit at the 10 handle winner. Majority of Gladiator winners are 13-15 handle winners. The false signals have also been mixing but the speed with which they are neutralized in a market which is ranging as much as this market has been, should be appreciated. When in doubt, you refer to the Gladiator. It is unmatched in its ability to tell you the status quo of a market trend.
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Now we come to setups and charts.
The Monthly Net Line SP stands at 1298. Now that is in striking distance of todays close. This could have a consequence for the medium term into the end of the year. We could be then looking at another test of monthly lows and coupled with a test of the confluence at 1270 levels. The April Inside month could not have come at a more appropiate time as May paints one of the largest down months in recent times.
Those who are unaware of the Net Line SP and Net Line BP levels, please refer to the cheat sheet here.
“ES has gaps at 1314 to 1323. Some part was filled but we still need to close the rest” This is what I wrote and posted in the trade room when ES was at 1324 and when Gladiator crossed -1. Now we have an inside day painted at 1310 and we see a strong push for the hourly Net Line BP at 1317. Be long above that for a test of 1322. By the gaps have been filled and we are now done with filling the volume hole.
The Inside day in this case seems to have triggered to ward the downside and looking down the barrel. Our target was 98.1 which we mentioned in the trade room many times over. We have not only touched down targets but exceeded it. The Oscillators of vortex and stochastics are still strongly bearish but they do take time to reverse on a daily scale.
We know how closely has the Italian bonds been a precursor to EU moves. Well it did get the falcon to cross -1 at 1.247 and since then has given over 80 pips but I will now be careful given that BTP is pushing against a key support which also forms a double bottom and also the lower daily BB line.
This is what I said yesterday “CADJPY is still painting indecision in the middle of nowhere. To me
this looks like getting too heavy and may be losing strength. In that case we could see a daily intra day test of 76.31 before any subsequent move.”
This is what I say now:
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