Re: [RT] Fw: Trading Diary: Monday Morning Update, RealTraders Email List Archive

right now there is some downside pressure due in gold. Granted it would take a $40+ dollar drop to turn it slightly bearish. I would wait until after the opening to see what effect this pressure has upon price. Right now there is over a $25+ risk in gold.

Right now the Euro has a downside target of 1.2654 and would have to take out 1.2700 to have a chance for the next upside move. There currently is support at 1.2668. If that holds you would need a price of 1.2770 to start the next major up move in the Euro. Right now it is a do nothing until price proves that the low is in.

Just one mans opinion. It goes to show that there can be two different trading styles and both can be successful.

good luck Ben. Ira.

----- Original Message -----

From: Ben

To: realtraders@xxxxxxxxxxxxxxx ; ntt-list@xxxxxxxxxxxxxxx ; astrofin@xxxxxxxxxxxxxxx

Sent: Sunday, July 16, 2006 10:03 PM

Subject: [RT] Fw: Trading Diary: Monday Morning Update

lloks like time to go long euro again

and

gold

see charts bellow

----- Original Message -----
To: profitok@xxxxxxxxxxxxx

Sent: Sunday, July 16, 2006 9:31 PM

Subject: Trading Diary: Monday Morning Update

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Monday Morning Update

By Colin Twiggs
July 17, 2006

In response to a number of requests, we will trial a detailed weekly newsletter on Thursdays and a quick update at the start of the week. Your feedback will be appreciated.

These extracts from my daily trading diary are for educational purposes and should not be interpreted as investment advice. Full terms and conditions can be found at Terms of Use.

USA

The Nasdaq 100 shows little sign of completing a bear trap. Watch for a retracement that respects the new resistance level at 1520 to confirm the primary down-trend. Twiggs Money Flow (21-day) holding below the zero line, signals strong distribution.

The Dow Industrial Average is testing primary support at 10700. A fall below this level would signal reversal to a primary down-trend.
Twiggs Money Flow (21-day) holding below the zero line, signals distribution.

The S&P 500 displays a long tail at [5], signaling support at 1235, but Twiggs Money Flow (21-day) holding below the zero line, signals distribution. Expect a test of primary support at 1220. A close below this level would signal reversal of the primary trend.

Gold

Spot gold is headed for a test of the recent high at $730, but a strengthening dollar may cause a retracement to test initial support at $640/$650.

Source: Netdania

Currencies

EUR/USD: The euro broke through initial support at 1.27 USD and is headed for a test of intermediate support at 1.25. A close below 1.25 would indicate a test of primary support at 1.185/1.165.

Source: Netdania

United Kingdom

The FTSE 100 is following other markets into a test of primary support levels, in this case at 5500.

Japan

The Nikkei 225 respected the 100-day exponential moving average from below: a strong bear signal. Expect a test of support at 14000/14200. A close below this level would confirm the primary down-trend.

ASX Australia

The All Ordinaries is following other markets down. Expect a test of primary support at 4800.

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