Trader Tony

Trading isn’t farming, nobody needs a cow to do the “work”. The work is done in the mind.

Posts Tagged ‘trading in december’

GOLD is a BUY at current levels

December 10th, 2009

Finally, after unstoppable rise up the GOLD has retraced to the more reasonable levels. Right now we are trading right at the 50% Fibonacci retracement level and any weakness in USD will spark a huge buying interest in GOLD. My suggestion is to start accumulating GOLD at 1110-1130 levels. Place stop below 1100 (NB! use position management carefully) and a target at 1250.

If you are trading stokcs and ETFs, then buying DGP at 28.00-28.50 is a good bet. 1st Target 30.00-30.50 (I would personally exit 1/2 there and let the rest ride). Stop belwo 27.50.

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Posted in Investing Ideas, Market Overview, Potential Setups

Tags: 3x etf buy support fibonacci gold trading in december

EUR/USD direction for December

December 3rd, 2009

EUR/USD is due for another rise. Every resistance has been broken, and despite the slowing pace, we are still a uptrend. Right now I would be looking for pullback to 1.5070-1.5150 and another push higher after that. My target is 1.5300 at least. This will also coinsede with the rise in the S&P index.

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Posted in Market Overview, Potential Setups

Tags: buy support eur/usd trading in december trend

Stock Market direction in December

December 3rd, 2009

The latest whipsaw price action has caught many traders off guard. This indicates that the distribution is going in full scale. The question is, how big are the positions, the big IB have to unload. In case, the positions are very big, they would need more players to unload to. And the only way to involve more players is to make another squeeze to the upside.

Even though, the price indicates, that the top might be in, MACD and Volume are saying we might have another push higher. Also we need to factor in Seasonal factors and continued EUR/USD weakness.

So, right now, I would be looking for the last push lower to the 1095-1100 level to close the gap. This is a good area to start accumulating longs (Divergence and Classical Patterns might help to chose the right entry point). From there on, I would be looking to a traditional yer-end rally to 1140-1150 area.

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Posted in Market Overview, Potential Setups

Tags: buy support distribution spx spx 500 trading in december

Shortened week

December 23rd, 2008

A general though is, that it is almost impossible to trade during the Holidays.

At the same time the most important thing we learned in 2008 is that every rule has its exceptions. The same thing is with trading during shortened week.

For most traders it is a problematic environment to trade because of the lack of volatility, as most market participants are taking this week off to spend more time with the family, relatives, etc.

The same thing happened this year, still the markets were quite tradable. Especially for those, who were patient enough to wait for a setup and had a game plan in mind. Here is a chart with possible setups: