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Trading Homework for Trade-date Monday August 5th 2019

Commentary

  • GC: back to the upper end of the range.
  • SI: Seems to be carving out a broader range.
  • HG: At weekly support level – critical point. If this gives way, short bounces.
  • ZB: Strong breakout so buy flushes.
  • ZC: Breakdown but now at weekly support levels.
  • ZS: Maybe breaking down?
  • ZW: Might be finding support here.
  • LC: Weekly grail sale still in play. But oversold on the dailies so might be sideways consolidation for a while.
  • LH: Yikes – complete collapse here on bad news with China trade talks.
  • NG: Back to critical point / support level.
  • EMD: Break from rising channel – maybe bearish seasonals in equities kicking in.
  • ES: Back inside broad weekly range after failed daily breakout. Oversold now on dailies so trades can only be scalps I think.
  • YM: See ES comments
  • FDAX: Break from rising channel – just like US Equities.
  • EC: Major breakdown and now 2 days up. Short scalp?
  • BP: Daily buy divergences after breakdown. Maybe negative consolidation now for a few days.
  • NE1: Testing major swing low
  • DX: 5 SMA buy
  • PL: Weekly bear flag but daily approaching oversold levels
  • PA: Back inside weekly range. Downside target is now 1300.
  • NOK: Breakdown – short rallies. (Note: probably best to trade forex if you can which is the inverse of the futures so buy flushes there. Futures are very very thin).

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