Here we go again
Very rocky week, some of my positions are deep into the money and then it swing and hit the stop lost. There are no entry signal base on my technique for this week, thus no trade was done.
Review from last week trades:
Took profit on GBP
Took profit on stock indices however some later position got stop out
Stop out in Gold
current open position
This coming week
Gold - The overall trend is down. Let see more closely the movement of this metal. It might change from downtrend to uptrend. My take is it will stage a rebound then come off and creating new lows again. But i am always wrong so take it with a pinch of salt.
Oil - Trend is down. The look of it is that the down move will continue. It is good for the economy in the long run for low oil price.
Stock - Buy on dips. No sign that the stock market is coming off yet.US stock market may be capped. I do not see alot of room of movement till next year. But any price about 18000 in the Dow will let the market move higher.
China Stock market is a buy too. It have relive. Any dips is a buy. Moreover, the bull is young in this one. The chinese govt have introduce a little stimulus into their economy in around July. All stimulus like we know will boost the stock market
Currency - Most of the currency like Eur. Gbp, Nzd, Aud, Yen are in a downtrend. i will be still be looking for the down side in all of them.