Friday, May 29, 2020

AEX Daily Journal

AEX (AEX Daily Chart)

25-05-2020: long term trend is up, intermediate term trend is down and short term trend is up; because price is above support at 490 and above the 8 day EMA there is an upward bias, however 530 is formidable resistance

26-05-2020: we bested 530 (static resistance) again; let's see if it will act as support now; next target 545 

27-05-2020: 530 acted as support yesterday; let's see if it holds today; next target 545

28-05-2020: 530 didn't really hold yesterday, but the resistance range 527,50-530 did; still upward bias, therefore next target is 545

29-05-2020 bullish breakout; now 530 is resistance and should hold; targets are 545 and 560

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  538,62 (AEX Daily Chart)
Trend: uptrend; S/D-S/R: 530-545 and 8 day EMA support; JCS/SS/8EMA: bullish reversal signs on 20-05-2020.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: bought longs on 20-05-2020, stoploss at 8 day EMA.

BRENT @ 36,03 (BRENT Daily Chart)
Trend: uptrend; S/D-S/R: 28,50-36,50 and 8 day EMA support; JCS/SS/8EMA: no bullish reversal signs.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: waiting for bullish trigger.

GOLD @ 1.728,30 (GOLD Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 1.675-1.790 and 8 day EMA support; JCS/SS/8EMA: no bullish reversal signs.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: waiting for bullish trigger.

SOYB @ 847 (SOYB Daily Chart)
Trend: consolidation in downtrend; S/D-S/R: 820-855 and 8 day EMA support; JCS/SS/8EMA: bullish reversal signs on 30-04-2020.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: bought longs on 30-04-2020, stoploss at 830.

SPX @ 3.029,73 (SPX Daily Chart)
Trend: uptrend; S/D-S/R: 3.000-3.130 and 8 day EMA support; JCS/SS/8EMA: bullish reversal signs on 20-05-2020.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: bought longs on 20-05-2020, stoploss at 8 day EMA.

UST @ 138,94 (UST Daily Chart)
Trend: consolidation in uptrend; S/D-S/R: 138,45-139,30 and 8 day EMA meandering; JCS/SS/8EMA: no bullish reversal signs.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: waiting for bullish trigger.

XEU @ 110,72 (XEU Daily Chart)
Trend: consolidation in downtrend; S/D-S/R: 107,50-111,50 and 8 day EMA support; JCS/SS/8EMA: no bearish reversal signs.
Trade entry levels: price levels near static and dynamic (8 day EMA) support/resistance levels.
Trade actual: waiting for bearish trigger.

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

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.

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.