Hey Traders,

finally got that 50ema to cross above 200 dma today! now that we got that out of the way, what now?

ES found resistance one tick below gap resistance:

Full gap fill being 915.75 and ambush retracement zone from the highs and s/r band starting at 918.25. That would be final line of defense for the bears in the way of retest of highs.

Below there looking at 903.5 ambush and trendline resitance.

As for support will look for 200dma and 50ema too act as support again and then May lows below as the critical support band.

Hope this helps

Vlad

Despite crazy FOMC , Euro news, Swiss gov’t intervention tape today and 250+ pip range, euro is pretty range bound the past 2 weeks:

On the upside on dailys, 6/11 spike low is 1.4166, which is several ticks away form today’s high, with major trendline and euro rally high at 1.433 area above, below previous s/r level and now 50ema at 1.373.

On hourlys:

There are two channels to keep an eye on, and also this very steep trendline that is currently holding it down, right above 1.398 38% fib from this week’s high and 20 + 50 hourly emas and ambush area right above. Sounds like something every 20 pips, but it truly is , will have to watch tape and take stabs. On break above ambush zone will look for a trip to that 6/11 spike high and top of teal channel.

Cheers

Vlad

Hey Traders,

Gold had quiet a monster day today being up over $20 at one point and then trading down over $15 from highs, can finally retire the downtrend channel on hourly charts that was in place the whole month, now will be watching this trendline laminated with 50ema hourly that has been acting as support past few days, on break below trendline and ma’s will be watching retest of retracement zone:

below retracement zone on the downside will be expecting support at previous lows right at 61% fib retracement from April lows, with key 200day moving average below:

Above previous s/r levels and today’s highs at 944.4 area, with break above likely meaning a quick trip to 952.6, with target above at 961.96. Also note even though gold has a huge spike it failed to close above long term trendline that it broke down earlier this week and closed back below 50ema, will watch for close above to further build bullish case.

Hope this helps

Vlad

What a day!

Done Trading for the day, lots of charts to look at after the close to see new developments that took place today, lots of crazy moves!

Thanks all for stopping by in chat, was the best day yet, great trade ideas almost 24/7 and ~50 traders during market hours! if you visit and don’t stop in chat, check it out, say hi! Sorry about some technical trouble with it , it’s out of my control.

Will do some market updates later on in the evening

Have a great rest of the day

Vlad

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if you see somethign interesting setting up, feel free to post in comment section of the post!

LONDON (MarketWatch) — Switzerland’s central bank on Thursday said it would maintain an aggressive loosening of monetary policy and continue to take steps to ensure that the Swiss franc doesn’t rise against the euro. The Swiss National Bank left its Libor target range unchanged at 0% to 0.75% and said it still aims to bring Libor down to the lower part of the range. In a statement, the SNB said it would continue to provide the economy with a “generous supply of liquidity” and to continue buying Swiss-denominated bonds issued by private-sector borrowers. The SNB also said it would “take firm action to prevent an appreciation of the Swiss franc against the euro.” The euro was 0.1% lower versus the Swiss unit at 1.5036 francs.

Source: marketwatch

When the S&P gaps up >+0.5% on FOMC day, it has closed > open 10/11 times for an avg of +1.2%…but most often reverses in following day(s). Courtesy @sentimentrader

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Be very careful out there today, econ data 8:30 am, then FOMC at ~2…..

Magic has already begun in Euro & Swiss

May stops be with us

Good luck and good trading

Vlad

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who knows how often i’ll be able to post udpates, these are my favorite days, be sure to follow @esecfutures on Twitter, as most updates will probably make it on there

Hey Traders,

besides the oh-so-fun FOMC meeting tomorrow, there is some other fun data releases worldwide that should be market, fx and commod movers

All times GMT, subtract 4 hours to get EST time