Making the XJO thread great again Last Friday I was unable to...

Making the XJO thread great again

Last Friday I was unable to trade but analysis was to look for a big rally to R3 to sell or buy dips around the closing gap overnight lows areas and 6250 should hold. Not my preferred to trade to go long because who wants to sit there for 4hrs for 20 pips. Anyhow it worked.

I wont be able to trade again this morning and have to go out I will miss the first hour of trade.

I am guessing this week its all about Trump again. Bloomberg terminal has just flashed that Chinese media has been gagged from mentioning "Trade War" in any financial instrument trade movements. That's like saying you cant make a statement the AUD moved higher because the RBA raised rates.

The XJO spiked to 6274 this morning and is currently ticking 6266. I think IG's bullish premium is still applied so check and adjust levels accordingly. Sometimes it comes off after options expiry so will see how it is this Thrusday when IG is finished with option hedging and if they made any money or not.

Today I would stick my bullish Monday sentiment and see if any funds start buying. The way I do this is just have the 4 banks and the 2 miners up on the screen or in a watch list or whatever you prefer and see if they are all up 1-2% means index buying. I would wait for a big rally to 6333 R3 for a sell.

There was a doji posted on Friday so trades below 6255 will be negative. If the first 10mins of trade is below 6255 I would look to go short for 10 pips if PA looks like some selling is coming in. It could trade all the way down to 6219 which would be a sell.

I will be trading the close and see if there is a big rally to fade. Let you know if I see anything.





Weekend trade on the ftse, dax and WS was completely flat so no weekend grabbing headlines were out.