So the account is up 65% at this point (Click on the MQL5 links here) which is satisfying however on my recently created test it only makes me the no 2 trader. Oh well! There are a number of things on my radar. The Swiss Franc, Gold, Oil and the Ruble, oh and the FTSE too.
EURCHF – Remains stubbornly close to 1.20, it feels like the phony war before the real one begins. Who will blink first, the SNB or the traders. Some traders are undoubtedly already long and it’s hard to blame them but I myself and still content to wait it out and look elsewhere while the this market still trades above 1.20.
XAUUSD – One place I continue to look is to the Gold market which has quite convincingly broken below that $1180 and I am short Gold as I write. There still significant room for a continuation lower in the coming weeks.
Oil & The Ruble - Oil continues it’s extremely bearish decline and sits at multi-years support at $77. A close below this level would see little in the way of a move to $71.50 in the coming sessions. Should we get this it would be very hard to stand in the way of a further decline in the Ruble. I scalped this market short overnight but you need to stay nimble here and I feel small positions are the order of the day so that I can retain significant fire power should the initial position move against me.
FTSE – As I show in the daily webinar here this market is back at former rising trend support broken so convincingly in September. With the SPX and Nikkei back at all-time high’s it would be hard to see how the FTSE will not clear this resistance which now sits at 6632.
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