Market Update: Precision at its Best!
Dow Jones
At Trading Market Signals we ask you how much precision you're trading requires.
Would this be any good?
After the decline of the 20th for the Dow Jones, Trading Market Signals stated the following to all its members in our daily market commentary;
"Should a decline occur today then we will be hoping for the washout to occur early in the session in which we will be watching the 9915 extremely carefully as that may well be the last of the decline. Either way, we haven't got much to go on the downside."
At TMS we were watching like a hawk and so were our members!
At the Dow Jones open we had the 9915 on Long Alert and in the first minute of trading the market made its low within 10 points of this magic number! FANTASTIC just as we asked for, a horrible looking decline at the open in which our target was met with precision. 36 minutes later we were 200 points higher! Two hours and 23 minutes later we were virtually 300 points higher!
The downside target for the very short term was met and whilst the above chart holds a possible scenario the price action situation is seriously not as simple. This week will prove critical for the medium term trend. Snapping Friday's lows can easily take the market significantly lower in which we could see a large collapse in prices take place.
At TMS it is safe to say that we evaluate our unbiased technical analysis approaches however our TMS system will dictate our following of market prices consistently.
Euro
The above chart was the chart of the week which identified a massive move for the Euro.
Previously our currency update stated that the Euro would not snap the orange circle zone shown below as simply the currency was oversold with massive shorts attached and volatility was stepping up with the media behind every move - perfect ingredients to buy!
At Trading Market Signals we issued a buy signal to all members in which the entry price was nice and cheap! - 12170.
Our members gained 250 points almost immediately.
With Friday's Asian session highs the signal had hit a gain of 500 points! - Magic.
At Trading Market Signals we don't become fixated with one notion as price is the decider on which way markets will move. Unbiased technical analysis is the unlocking of price action to determine future price action. We react to price and although the Euro could continue its upward recent surge, Friday's highs would be the starting point for any such happenings to occur. Any backing away and the lows of last week can still be met and if pierced then the declines would accelerate at a phenomenal pace.
If you're trading requires you to stay one step ahead of the market moves, if you need the critical numbers before the market reacts and takes off, if you need the TMS system to perhaps act as your secondary indicator on your trading checklist then you can join us with the link below with our special flash crash rate subscription: http://tradingmarketsignals.com/#/special-client-100-members/4540799314
Obtain technical analysis commentary like no other with critical market charts and TMS signals that netted 15377 points in 2009 on the five major markets we follow: Dow Jones, GBP.USD, EUR.USD, Crude Oil and FTSE100.
For sure 2010 is not over and no doubt it is likely that the markets will deliver moves outside of the common expectations just as they always do!
Until next time, remember:
Trading Market Signals
...the hub of unbiased technical analysis!
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