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CFD Trading Strategies in this video are using Elliott Wave and TradingLevels, however the actually CFD Trading Strategies we use to trade the NYSE NASDAQ ASX are Mechanical CFD Trading Strategies, you can get a free trial and see the CFD Strategies and CFD Trades at TradingLounge.com.au We are friendly affordable and open to educating you in what we know. FREE TRIAL !
CFD Trading Strategies
Dow Jones – 11,831 -1.04%
Base Metals Negative
US Gold CFD: 1577
Oil WTI CFD: 95.74
Copper CFD: 326
US Dollar CFD: 80.50
EURUSD 1.30
AUDUSD 0.9930
Dow Jones CFD 11880
S&P500 CFD: 1213
FTSE 100 CFD: 5382
SPI CFD 4200
News
U.S. stocks sank for a third straight day as falling commodity prices added to investor anxiety over the euro and a jump in Italy's borrowing costs.
CFD Trading Strategies Commodities
US Gold CFD: 1577
The clear impulse wave (five waves) is certainly picking up speed as the US dollar moves higher and the indices sell off. The next target is approaching quickly, which is the next MediumLevel 1500 (ML15).
There is the sublevels that the price needs to navigate, first up is Subgroup2 {SG2 1580|1572|1565} followed be the Midpoint 1550, then Subgroup1 {SG1 – 1530|1520|1510}.
At each of these three levels expect corrective price action and plan your trading around them. The Elliott wave structure has further downside to get to 1500 with only a small wave four to navigate, the larger corrective pattern should come at 1500. There is still more downside to come after the corrective pattern at 1500Sliver; now has a nice clean break through 30.00 (TL3) the first MinorLevel is 28 (mTL8) The third short position should come from a failed retest, either of the 30.00 or the 28.00, if it is the 30.00 then great and also place the fourth trade on the failed retest of 28.00, do not over trade, under trading actually makes more money in the long run, simply because you can allow yourself to do the right thing and the right time and allow that to play out fully.Oil WTI CFD: 95.74
I’m glad Oil is down, as I could get my head around where the upside was coming from, I was starting to wonder if the hedge funds were trying to push it again like they did last time when it when to 140+ . Anyway once it locks under 95 the Midpoint then its free to let go of 100. Any shorting of Oil stocks on the ASX NYSE should be part positions and looking to add if 95 then 90 become the resistance. As the pattern above 95 is still a bullish corrective pattern and not a clear impulse wave down, so in the structure so far there is no real evidence for further downside, it’s just last night’s move swing the boas to the bearish position and therefore we can laydown amounts according to that, i.e. one small position short in stock that we can add to later if correctBase Metals
US Spot Prices (in l/b)
US Copper: Last: 3.24-
US Nickel: Last: 7.89-
US Zinc: Last: 0.83-
US Aluminium Last: 0.86-Copper CFD: 326
We could see the selling pressure here yesterday and it has followed through, copper can be such a good guide to the other markets. The price range is extending, expanding down, so will the markets related to this the ASX XMJ AUD etc. We chose this sector yesterday over the energy sector to short and this can continue but the energy sector is starting to pull into line on the down side.Forex
US Dollar CFD: 80.50
The shorter trend to count is the move up from 78 which should top out at 81 or 82 and fold back to 80 checking for support, start counting the waves up from 78 I think the current high is nearly the top of wave three, so a four and five to go then a larger pull back towards 80, I know I’m a little loose here with prices, it’s just that the Euro is so news driven waves can extend or contract form market intervention, it’s not the normal psychological flow, we see this a lot with the yen
EURUSD 1.30
TradingLevels: The MinorLevel mTL3|1.30 expect the price to consolidate here before move down to the next level 1.20 of course this will take to reach but its important to understand the price is now entering Minor Group1 (MG1) then we can take our thinking into the sublevel terrain. While the price is here at 130 the US Dollar will be at 80, try and see these two markets not only pushing and pulling of each other but the price they are also doing it with, if you’re having trouble with the wave count on the Dollar then bring in the USDCHF and CAD to get a sense of what’s unfolding
Elliott Wave: Wave (iv) about to unfold at 130
CFDTrading Strategies: We are expecting a wave four at 130 and in Elliott trading we don’t trade wave four. That said; trade the sublevels around the MinorLevel 130 essentially scalping the sublevels.
Daily and Weekly Robo traders can cover part profits here, while wave four is unfolding as the price can move back to the wave four of one lesser degree 13072 and maybe 131, we cannot forget that Europe is the catalyst for headline news. The Euro normally has shallow rallies and a wave four is normally the 38.2% of wave three. You can also use the levels, such as, if support is found on SG1 then the price will get to the Midpoint and if the Midpoint finds support then look at SG2, this way you know what to do and how much exposure you are willing to accept AUDUSD 0.9930
TradingLevels: The Euro is will find support on 130 and the AUD on 99, the TL1 | 1.00 hasn’t been retested yet, which is normally done from the 99 and the 98. The 98 is the first MinorLevel and is also lower trend line support, so consider it the main support below the 1.00
Elliott Wave: Wave C of Triangle (E) below 1.00 (see 4 Hour Chart)
CFD Trading Strategies:: Continue to scalp through the sublevels while around 1.00
Indices
Dow Jones CFD 11880
TradingLevels: If the 11,800 mTL8 becomes resistance then another layer of weakness is created, the first is simply being under 12000 and 11,800 as resistance is where you would add to shorts. The MediumLevel 11,500 is the game changer. Other smaller levels worth noting such as 11,772, 11,720 and 11650 will have their say.
Elliott Wave: In the bigger picture there are still two wave counts a bullish and bearish, from a trading point of view we have to trade what we see and that is the bear
CFD Trading Strategies: We started to short stocks on the NYSE last night and will continue with that. Once the price is locked under the 11,800 then the target is 11500 and Intermediate Wave (3) would be underwayS&P500 CFD: 1213
TradingLevels: Under 1250 was the first bearish signal, the next is 1,200 (mTL2). There is also trendline support cutting through just below 1,200
Wave count: Like the Dow there are two wave counts one positive and one negative, so that’s not much help to us, but from a trading point of view the 1250 and then the 1,200 should tell you what side of the market to be on
CFD Trading Strategies: Choose you degree of structure to trade i.e. MicroLevels, Sublevels or MinorLevels and then create your trading rules and money management rules around this size of structure, then continue to refine your trading within this, this refinement can only be done from making mistakes as mistakes are your experience, don’t change the size of the structure your trading while in the trade, stay in the frame.FTSE 100 CFD: 5382
TradingLevels: Lower highs on the hourly chart and retesting MinorLevels and certain Subgroups such as 5472 and now the play is at 5400 and 5372 SG2, you have to be there at the time, but it doesn’t get any easier that seeing this market unfold
Elliott Wave: It certainly looks like a series of waves one and twos unfolding from the 5600 highs, if this is the case then the market should pick up speed to the downside
CFD Trading Strategies: Sell the retests at the levels and check the volume, you want to see lower volume on the retests
SPI CFD 4200
TradingLevels: Next level 4100 which is the 61.8% retracement level of the last trend up, so expect support
Elliott Wave: Unsure, its either a corrective more down or a much larger bear market unfolding
CFD Trading Strategies: Trade the sublevels and trade lower to 4100CFD Trading Strategies Summary
Going Going… The wave structures down for the global indices can still be corrective and therefore see a move higher or the corrective structures are actually a series of waves ones and twos of Intermediate Wave (3) unfolding and this is a serious move down, that is the 2008 bear market was about company debt and that was Intermediate Wave (1), this is about sovereign debt and Wave (3) is always bigger than Wave (1) we are still a long way off confirming this, but we should at least understand the structure and see if it all falls into place and if so, how are we going to trade this? You know already that we have been short on the Euro and long on the dollar and next job is to get short on the US Indices for the long term and this would be at Minor Wave 2 within Intermediate Wave (3) I suggest using options or futures contract with your CFD trading, the reason for this is that its normally way Three when governments ban CFDs and you will be told to exit short positions. I must point out that the above is just a scenario that can play out and I can certainly be wrong and in this game its not about being wrong or right its about preparation meeting opportunity and in the end it doesn’t matter which way the market goes we just need to be on the right side with the right amount and the right timeIn the meantime on the ASX NYSE NASDAQ we will look for shorts.
Yesterday – Wednesday in the weekly cycle as you know is opening lower in the morning session and closing higher, we don’t normally short on that day but the wave count called for it and that should pan out ok, you know what Thursday is? So it’s the volume in the afternoon session that is the key, I’m not going to spell this out, you need to think it out.
Trading QuoteNever let your market decisions be restricted or influenced by concern over what others might think. Don’t worry about looking stupid.
Today's Financial Events
Time Currency Detail Forecast Previous
8:30am NZD Business NZ Manufacturing Index 46.5
10:50am JPY Tankan Manufacturing Index -2 2
10:50am JPY Tankan Non-Manufacturing Index 1 1
11:00am AUD MI Inflation Expectations 2.5%
11:30am AUD New Motor Vehicle Sales m/m 1.1%
11:30am AUD RBA Bulletin
1:30pm CNY HSBC Flash Manufacturing PMI 47.7
7:00pm EUR French Flash Manufacturing PMI 47.1 47.3
7:00pm EUR French Flash Services PMI 49.2 49.6
7:15pm CHF Industrial Production q/q -0.7% 3.6%
7:30pm CHF Libor Rate <0.25% <0.25%
7:30pm CHF SNB Monetary Policy Assessment
7:30pm CHF SNB Press Conference
7:30pm EUR German Flash Manufacturing PMI 47.6 47.9
7:30pm EUR German Flash Services PMI 50.1 50.3
8:00pm EUR ECB Monthly Bulletin
8:00pm EUR Flash Manufacturing PMI 46.1 46.4
8:00pm EUR Flash Services PMI 47.1 47.5
8:30pm GBP Retail Sales m/m -0.2% 0.6%
8:30pm GBP Consumer Inflation Expectations 4.2%
9:00pm EUR CPI y/y 3.0% 3.0%
9:00pm EUR Core CPI y/y 1.7% 1.6%
9:00pm EUR Employment Change q/q 0.2% 0.3%
10:00pm GBP CBI Industrial Order Expectations -20 -19
10:25pm EUR ECB President Draghi Speaks
12:30am CAD Capacity Utilization Rate 78.9% 78.4%
12:30am USD PPI m/m 0.3% -0.3%
12:30am USD Unemployment Claims 389K 381K
12:30am USD Core PPI m/m 0.2% 0.0%
12:30am USD Current Account -108B -118B
12:30am USD Empire State Manufacturing Index 3.1 0.6
1:00am USD TIC Long-Term Purchases 53.4B 68.6B
1:15am USD Capacity Utilization Rate 77.9% 77.8%
1:15am USD Industrial Production m/m 0.3% 0.7%
2:00am USD Philly Fed Manufacturing Index 5.1 3.6
2:30am USD Natural Gas Storage -20BNOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Free Stuff on Technical Analysis is available on TradingLounge.com.au site!
CFD Trading Strategies in this video are using Elliott Wave and TradingLevels, however the actually CFD Trading Strategies we use to trade the NYSE NASDAQ ASX are Mechanical CFD Trading Strategies, you can get a free trial and see the CFD Strategies and CFD Trades at TradingLounge.com.au We are friendly affordable and open to educating you in what we know. FREE TRIAL !
CFD Trading Strategies
Dow Jones – 11,831 -1.04%
Base Metals Negative
US Gold CFD: 1577
Oil WTI CFD: 95.74
Copper CFD: 326
US Dollar CFD: 80.50
EURUSD 1.30
AUDUSD 0.9930
Dow Jones CFD 11880
S&P500 CFD: 1213
FTSE 100 CFD: 5382
SPI CFD 4200
News
U.S. stocks sank for a third straight day as falling commodity prices added to investor anxiety over the euro and a jump in Italy's borrowing costs.
CFD Trading Strategies Commodities
US Gold CFD: 1577
The clear impulse wave (five waves) is certainly picking up speed as the US dollar moves higher and the indices sell off. The next target is approaching quickly, which is the next MediumLevel 1500 (ML15).
There is the sublevels that the price needs to navigate, first up is Subgroup2 {SG2 1580|1572|1565} followed be the Midpoint 1550, then Subgroup1 {SG1 – 1530|1520|1510}.
At each of these three levels expect corrective price action and plan your trading around them. The Elliott wave structure has further downside to get to 1500 with only a small wave four to navigate, the larger corrective pattern should come at 1500. There is still more downside to come after the corrective pattern at 1500Sliver; now has a nice clean break through 30.00 (TL3) the first MinorLevel is 28 (mTL8) The third short position should come from a failed retest, either of the 30.00 or the 28.00, if it is the 30.00 then great and also place the fourth trade on the failed retest of 28.00, do not over trade, under trading actually makes more money in the long run, simply because you can allow yourself to do the right thing and the right time and allow that to play out fully.Oil WTI CFD: 95.74
I’m glad Oil is down, as I could get my head around where the upside was coming from, I was starting to wonder if the hedge funds were trying to push it again like they did last time when it when to 140+ . Anyway once it locks under 95 the Midpoint then its free to let go of 100. Any shorting of Oil stocks on the ASX NYSE should be part positions and looking to add if 95 then 90 become the resistance. As the pattern above 95 is still a bullish corrective pattern and not a clear impulse wave down, so in the structure so far there is no real evidence for further downside, it’s just last night’s move swing the boas to the bearish position and therefore we can laydown amounts according to that, i.e. one small position short in stock that we can add to later if correctBase Metals
US Spot Prices (in l/b)
US Copper: Last: 3.24-
US Nickel: Last: 7.89-
US Zinc: Last: 0.83-
US Aluminium Last: 0.86-Copper CFD: 326
We could see the selling pressure here yesterday and it has followed through, copper can be such a good guide to the other markets. The price range is extending, expanding down, so will the markets related to this the ASX XMJ AUD etc. We chose this sector yesterday over the energy sector to short and this can continue but the energy sector is starting to pull into line on the down side.Forex
US Dollar CFD: 80.50
The shorter trend to count is the move up from 78 which should top out at 81 or 82 and fold back to 80 checking for support, start counting the waves up from 78 I think the current high is nearly the top of wave three, so a four and five to go then a larger pull back towards 80, I know I’m a little loose here with prices, it’s just that the Euro is so news driven waves can extend or contract form market intervention, it’s not the normal psychological flow, we see this a lot with the yen
EURUSD 1.30
TradingLevels: The MinorLevel mTL3|1.30 expect the price to consolidate here before move down to the next level 1.20 of course this will take to reach but its important to understand the price is now entering Minor Group1 (MG1) then we can take our thinking into the sublevel terrain. While the price is here at 130 the US Dollar will be at 80, try and see these two markets not only pushing and pulling of each other but the price they are also doing it with, if you’re having trouble with the wave count on the Dollar then bring in the USDCHF and CAD to get a sense of what’s unfolding
Elliott Wave: Wave (iv) about to unfold at 130
CFDTrading Strategies: We are expecting a wave four at 130 and in Elliott trading we don’t trade wave four. That said; trade the sublevels around the MinorLevel 130 essentially scalping the sublevels.
Daily and Weekly Robo traders can cover part profits here, while wave four is unfolding as the price can move back to the wave four of one lesser degree 13072 and maybe 131, we cannot forget that Europe is the catalyst for headline news. The Euro normally has shallow rallies and a wave four is normally the 38.2% of wave three. You can also use the levels, such as, if support is found on SG1 then the price will get to the Midpoint and if the Midpoint finds support then look at SG2, this way you know what to do and how much exposure you are willing to accept AUDUSD 0.9930
TradingLevels: The Euro is will find support on 130 and the AUD on 99, the TL1 | 1.00 hasn’t been retested yet, which is normally done from the 99 and the 98. The 98 is the first MinorLevel and is also lower trend line support, so consider it the main support below the 1.00
Elliott Wave: Wave C of Triangle (E) below 1.00 (see 4 Hour Chart)
CFD Trading Strategies:: Continue to scalp through the sublevels while around 1.00
Indices
Dow Jones CFD 11880
TradingLevels: If the 11,800 mTL8 becomes resistance then another layer of weakness is created, the first is simply being under 12000 and 11,800 as resistance is where you would add to shorts. The MediumLevel 11,500 is the game changer. Other smaller levels worth noting such as 11,772, 11,720 and 11650 will have their say.
Elliott Wave: In the bigger picture there are still two wave counts a bullish and bearish, from a trading point of view we have to trade what we see and that is the bear
CFD Trading Strategies: We started to short stocks on the NYSE last night and will continue with that. Once the price is locked under the 11,800 then the target is 11500 and Intermediate Wave (3) would be underwayS&P500 CFD: 1213
TradingLevels: Under 1250 was the first bearish signal, the next is 1,200 (mTL2). There is also trendline support cutting through just below 1,200
Wave count: Like the Dow there are two wave counts one positive and one negative, so that’s not much help to us, but from a trading point of view the 1250 and then the 1,200 should tell you what side of the market to be on
CFD Trading Strategies: Choose you degree of structure to trade i.e. MicroLevels, Sublevels or MinorLevels and then create your trading rules and money management rules around this size of structure, then continue to refine your trading within this, this refinement can only be done from making mistakes as mistakes are your experience, don’t change the size of the structure your trading while in the trade, stay in the frame.FTSE 100 CFD: 5382
TradingLevels: Lower highs on the hourly chart and retesting MinorLevels and certain Subgroups such as 5472 and now the play is at 5400 and 5372 SG2, you have to be there at the time, but it doesn’t get any easier that seeing this market unfold
Elliott Wave: It certainly looks like a series of waves one and twos unfolding from the 5600 highs, if this is the case then the market should pick up speed to the downside
CFD Trading Strategies: Sell the retests at the levels and check the volume, you want to see lower volume on the retests
SPI CFD 4200
TradingLevels: Next level 4100 which is the 61.8% retracement level of the last trend up, so expect support
Elliott Wave: Unsure, its either a corrective more down or a much larger bear market unfolding
CFD Trading Strategies: Trade the sublevels and trade lower to 4100CFD Trading Strategies Summary
Going Going… The wave structures down for the global indices can still be corrective and therefore see a move higher or the corrective structures are actually a series of waves ones and twos of Intermediate Wave (3) unfolding and this is a serious move down, that is the 2008 bear market was about company debt and that was Intermediate Wave (1), this is about sovereign debt and Wave (3) is always bigger than Wave (1) we are still a long way off confirming this, but we should at least understand the structure and see if it all falls into place and if so, how are we going to trade this? You know already that we have been short on the Euro and long on the dollar and next job is to get short on the US Indices for the long term and this would be at Minor Wave 2 within Intermediate Wave (3) I suggest using options or futures contract with your CFD trading, the reason for this is that its normally way Three when governments ban CFDs and you will be told to exit short positions. I must point out that the above is just a scenario that can play out and I can certainly be wrong and in this game its not about being wrong or right its about preparation meeting opportunity and in the end it doesn’t matter which way the market goes we just need to be on the right side with the right amount and the right timeIn the meantime on the ASX NYSE NASDAQ we will look for shorts.
Yesterday – Wednesday in the weekly cycle as you know is opening lower in the morning session and closing higher, we don’t normally short on that day but the wave count called for it and that should pan out ok, you know what Thursday is? So it’s the volume in the afternoon session that is the key, I’m not going to spell this out, you need to think it out.
Trading QuoteNever let your market decisions be restricted or influenced by concern over what others might think. Don’t worry about looking stupid.
Today's Financial Events
Time Currency Detail Forecast Previous
8:30am NZD Business NZ Manufacturing Index 46.5
10:50am JPY Tankan Manufacturing Index -2 2
10:50am JPY Tankan Non-Manufacturing Index 1 1
11:00am AUD MI Inflation Expectations 2.5%
11:30am AUD New Motor Vehicle Sales m/m 1.1%
11:30am AUD RBA Bulletin
1:30pm CNY HSBC Flash Manufacturing PMI 47.7
7:00pm EUR French Flash Manufacturing PMI 47.1 47.3
7:00pm EUR French Flash Services PMI 49.2 49.6
7:15pm CHF Industrial Production q/q -0.7% 3.6%
7:30pm CHF Libor Rate <0.25% <0.25%
7:30pm CHF SNB Monetary Policy Assessment
7:30pm CHF SNB Press Conference
7:30pm EUR German Flash Manufacturing PMI 47.6 47.9
7:30pm EUR German Flash Services PMI 50.1 50.3
8:00pm EUR ECB Monthly Bulletin
8:00pm EUR Flash Manufacturing PMI 46.1 46.4
8:00pm EUR Flash Services PMI 47.1 47.5
8:30pm GBP Retail Sales m/m -0.2% 0.6%
8:30pm GBP Consumer Inflation Expectations 4.2%
9:00pm EUR CPI y/y 3.0% 3.0%
9:00pm EUR Core CPI y/y 1.7% 1.6%
9:00pm EUR Employment Change q/q 0.2% 0.3%
10:00pm GBP CBI Industrial Order Expectations -20 -19
10:25pm EUR ECB President Draghi Speaks
12:30am CAD Capacity Utilization Rate 78.9% 78.4%
12:30am USD PPI m/m 0.3% -0.3%
12:30am USD Unemployment Claims 389K 381K
12:30am USD Core PPI m/m 0.2% 0.0%
12:30am USD Current Account -108B -118B
12:30am USD Empire State Manufacturing Index 3.1 0.6
1:00am USD TIC Long-Term Purchases 53.4B 68.6B
1:15am USD Capacity Utilization Rate 77.9% 77.8%
1:15am USD Industrial Production m/m 0.3% 0.7%
2:00am USD Philly Fed Manufacturing Index 5.1 3.6
2:30am USD Natural Gas Storage -20BNOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Free Stuff on Technical Analysis is available on TradingLounge.com.au site!
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