Daily Plan

Strategy – GER IFO business climate and US CB Consumer Confidence

Strategy

Overnight:

  • Markets are fairly quiet ahead of Fed decision due out on Wednesday.
  • Kushner grilling in closed talks with intelligence committee, discloses 4 meetings with Russian government during election.
  • 3 month T-bill auction yield curve inverts as investors fail to buy government debt.
  • ASX led equity gains during Asia session.
  • Dollar recovering ever so slightly.
  • Yen at strongest levels in more than a month.
  • Oil climbs post Saudi and Russia threats on OPEC compliance.

Upcoming data/calendar

calander.PNG

Strategy for today:

Looking towards the dollar to see if we see any profit taking in the majors and ahead of the Feds interest rate decision tomorrow. Looking for breaks of the current rages in Yen, Gold and T-notes on any dollar recovery or profit taking in the majors or playing the ranges from higher up at pivot. Also looking towards Crude to see if we can break 47 handle on the upside. Could be interesting.

Trades

6J Yen: Looking across the majors for dollar recovery and any equity strength to support the move lower. I am hoping for a break below S1.

Alternative trade is to enter short from higher up and play the range from pivot if we fail to breakout.

YenShort.PNG

 

GC Gold: Same trade as Yen, looking for a recovery in dollar (profit taking in the majors) ahead of tomorrows interest rate decision. Break below s1 and the current range for the short.

Alternative trade is to enter short from higher up and play the range from pivot if we fail to breakout.

goldShort.PNG

CL Oil: looking for a clean break above 47.00 handle for the long with an entry on the pullback for a retest of 47 and R1, targets are R2 and last weeks high.

OilLong.PNG


Disclaimer: There is substantial risk in trading. A loss incurred in connection with futures trading be significant. Target Alpha Trading makes no claims whatsoever regarding passed or future performance. Any Strategy is for educational purposes only.

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