Oil prices soared on Wednesday as tensions in the Middle East worsened. The US and Iran hit several oil tankers while the Houthis attacked oil facilities in Saudi Arabia. Meanwhile, market participants are watching incoming US data for clues on the Fed’s monetary policy path. Oil futures (Source: ICE, Nymex) The new conflict between the Read More…
Introduction Dow Jones futures are sitting above a clear support zone at 51,938, and there is a slight bearish bias in US equities right now. On the 10 September session price is 52,601. Price has also slipped under the 50 moving average at 53,120, which is now resistance. Until support breaks or holds, trade the Read More…
Introduction If you’ve traded with a prop firm before, you already know that nothing matters more than actually getting paid. Everything else is a means to an end, the platform, the pricing, the drawdown structure, the scaling plan, because none of it counts for anything if the money doesn’t reach your bank account when you Read More…
Introduction Gold futures bounced out of the support zone around 4,000, the turquoise rectangle on the chart, and that bounce ran into more or less a 17% rally. From the previous high on 25 August we’ve had a small pullback of about 8%, which is a 50% retracement, and that’s a good place to see Read More…
Gold fell on Tuesday, extending its decline from the previous session after an upbeat US jobs report increased Fed rate-hike expectations. At the same time, rising geopolitical tensions increased inflation worries. It recovered early Wednesday as market participants geared up for the US CPI report. Since last week, tensions in the Middle East have driven Read More…
Equities ended last week nearly flat as prices oscillated amid geopolitical tensions and US economic data. The conflict between the US and Iran escalated during the week, sending oil prices back above $90 a barrel. Meanwhile, non-farm payroll data on Friday revealed a robust labor market that gives the Fed room to hike interest rates. Read More…
Introduction This is a follow-up to the 3 September analysis, where NQ was sitting on the 29,000 support zone with a morning star on the daily chart. That bounce has held. The morning star formed on the Wednesday session and confirmed on the Thursday green day, and that Wednesday close was 1.16% up. On the Read More…
Currency futures edged higher on Monday as the dollar struggled to hold Friday’s gains, as the US marked Labor Day. The non-farm payrolls report out last week revealed robust job growth, beating forecasts and increasing expectations for a Fed rate hike. At the same time, inflation worries intensified as Middle East tensions worsened last week. Read More…
Introduction A trend line channel strategy uses two parallel lines. One connects your swing points and defines the trend. The other is projected across the price action and marks where the next swing is likely to stall and swing. You enter on a pullback to the trend line and take profit at the opposite line. Read More…
Introduction Crude oil futures are testing a resistance band around 91 to 93. On the 4 September session price was 90.84 after tagging as high as 92.16 inside that zone. The Primary setup from here is a short off that resistance, with a stop just above Thursday’s session high at 93.15 and a target around Read More…
