Thursday, July 2, 2020

AEX Daily Journal

AEX (AEX Daily Chart)

29-06-2020: long term trend is up (since March 2009), intermediate term trend is down (since July 2018) and short term trend is up (since March 2020); because price is below the 8 day EMA there is a downward bias; support is at 530 and resistance is at 575 and 603

30-06-2020: downward bias; support at 530 and resistance at 575 and 603

01-07-2020: consolidation (market does not want to go down); meandering around both the 8 day EMA and 200 day SMA; support at 530 and resistance at 575 and 603

02-07-2020: more of the same

I do not trade or invest according to these views. For that purpose I only use the Trend Trade & Investment Strategies which are explained at the bottom of this blog. Please also read the disclaimer there.

Dashboard Dailies (closing previous business day)

Daily Time Frame Trading

AEX  562,67 (AEX Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 530-575/603 and 8 day EMA meandering; JCS/SS/8EMA: no immediate bullish trigger signs.
Trade actual: none.

BRENT @ 42,03 (BRENT Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 36,50-43,50 and 8 day EMA support; JCS/SS/8EMA: immediate bullish trigger signs on 29-06-2020.
Trade actual: bought longs on 29-06-2020, stoploss at 39,70.

GOLD @ 1.779,90 (GOLD Daily Chart)
Trend: uptrend; S/D-S/R: 1.790-1.900 and 8 day EMA support; JCS/SS/8EMA: immediate bullish trigger signs on 30-06-2020.
Trade actual: bought longs on 30-06-2020, stoploss at 1.754.

SOYB @ 899 (SOYB Daily Chart)
Trend: uptrend; S/D-S/R: 880-895 and 8 day EMA support; JCS/SS/8EMA: immediate bullish trigger signs on 30-06-2020.
Trade actual: sold longs on 01-07-2020, reached static resistance level (895).

SPX @ 3.115,86 (SPX Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 2.950-3.130 and 8 day EMA support; JCS/SS/8EMA: immediate bullish trigger signs on 30-06-2020.
Trade actual: bought longs on 30-06-2020, stoploss at 3.000.

UST @ 139,18 (UST Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 137-139,50 and 8 day EMA support; JCS/SS/8EMA: no immediate bullish trigger signs.
Trade actual: none.

XEU @ 112,50 (XEU Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 111,50-114,50 and 8 day EMA meandering; JCS/SS/8EMA: bullish trigger signs on 22-06-2020.
Trade actual: bought longs on 22-06-2020, stoploss at 111,65.

Trend is defined by the position of highs and lows and/or the existence of a clear trend channel. Consolidation (accumulation/distribution) usually means a breach of dynamic but not of static support/resistance. Corrections usually imply a breach of both.

S/D-S/R abbreviates static and dynamic support/resistance levels. EMA stands for exponential moving average.

I only consider very clean Japanese Candlestick signals (JCS) in the direction of the trend preferably from an oversold or overbought Slow Stochastic (SS). 8EMA is the position of price versus the 8 day EMA.

Stoplosses are on a closing basis.

For actual trading I use capped futures (limited downside risk) and options.

For an explanation of the Trend Trade & Investment Strategies, its abbreviations and its usage see the bottom of this blog. Please also read the disclaimer there.