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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek – SP500, DAX, EUR/USD 01/20-27/2014 !!!

    The first New Year Top Five Tips of the Week from Michael are here.

    Check them out and find the Best Binary Options Trading Ideas for this Week! Test them on CommuniTraders Binary Trading Platform!

    Originaly posted by Michael Hodges.

    U.S. Economy Stabilising

    S&P 500
    Call/Put = Call
    Entry = Below 1840
    Expiration = One Month

    The signs are clear that the U.S. economy, and the world economy in general, is stabilising. Recent data, though mixed, has remained in line with the longer term trends of growth and imporovement. Earnings this season are a little concerning at this point. They are not quite as robust as one would like, and the forward guidance is not universally positive. This could cause the market to correct some but I think not. The SPX has been trending sideways ever since the start of the Christmas holidays and has made a nice consolidation and there is no indication of bearish activity at this time.

    The SPX is trapped between support at 1820 and resistance at 1840. This range marks the pre-Holiday closing level and the high set just before the end of the year. The fact that the index has not fallen below this level is promising, but the fact that it has not moved above it is equally troubling. There is a chance that the index could correct but with the long term trend still being up I would view that as a buying opportunity. At this time support is aided by the short term moving average with indicators that are beginning to echo support. Because there could be some short term volatility this week I am trading monthly positions on this index. The FOMC meeting will be a catalyst, to the upside in my opinion so I am tradin calls with a target entry below 1840.

    ECB Meeting On The Schedule

    Call/Put = Call
    Entry = Below 9700
    Expiration = One Month

    I am trading a similar position on the DAX this week as on the SPX. The ECB meeting, earnings season and data could provide some volatility but the FOMC meeting should be the catalyst for longer term movment. The DAX is trading at high levels relative to the trend but this OK because it is also being supported by bullish indications. I am trading calls on the DAX with a target entry belo 9700 and one month until expiration.

    USD/JPY Set To Move

    Call/Put = Call
    Entry = Below 104.25
    Expiration = One Month

    I am giving this trade one month as well. The BOJ and FOMC both meet next week, along with scores of data points that could impact this trade. However, the long term trend is up and the pair is indicated to move higher so that is how I am trading. The pair was at new highs as recently as two weeks ago, then a sharp correction to the moving average and support has left us with a pair sitting just above strong support. I am trading calls with one month until expiry and a target entry below 104.25.

  2. #2
    Veteran Member hchandra's Avatar
    USD/JPY seems good for long term,
    Looking at my chart there was big gap in September - October 2008, and that was closed price of 106,
    Base on strong demand (14 January '14 candle), I believe 103.9 - 104.2 was a potential new level for demand.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by hchandra View Post
    USD/JPY seems good for long term,
    Looking at my chart there was big gap in September - October 2008, and that was closed price of 106,
    Base on strong demand (14 January '14 candle), I believe 103.9 - 104.2 was a potential new level for demand.
    I think that the long term resistance may be broken down, but the BOJ meeting and announcment will be the first potential catalyst, followed by the FOMC meeting next week.

  4. #4
    Legendry Member milos's Avatar
    Click image for larger version. 

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    Key levels
    104.90 resistance
    104.75 resistance
    104.45 resistance
    104.27 last
    103.90 support
    103.50 support
    103.20 support

    Next target 105

  5. #5
    Legendry Member Michael Hodges's Avatar
    SPX correction has started, good thing I gave my positions a month till expiry, the FOMC meeting next week is a possible boost too, maybe,

  6. #6
    Veteran Member Dan21's Avatar
    The correction seems toо big and with fast momentum that I don’t want to enter Calls on SP500 no way for now. Probably it will stop next week but I think that there is possibility that it will be just a beginning of a bear trend for the next few months at least. Next week price action will be very important to test that idea!

  7. #7
    Specialist Member runneroption's Avatar
    I think it is too early to say that thing. Probably next week will show us is there a support bellow the current levels or the markets are in free fall. Let’s wait 2-3 days before making such a big statement for the next couple of months.

  8. #8
    Veteran Member hchandra's Avatar
    Still a healthy correction for SPX and Dow Jones,
    Next week maybe price will go down further, but long term support still present,
    my guess 15600 - 15700, but if go down more than that then 14800 - 15000
    its bearish trend for short term, but long term still show bull is there at least with higher low and higher high intact in all charts (Daily, Weekly, Monthly).

  9. #9
    Legendry Member Michael Hodges's Avatar
    i think there could be some more downside but near/short term in duration. The long term trend is still up and earnings are doing pretty good

  10. #10
    Veteran Member hchandra's Avatar
    Something big from China it seems, I see everyone panicking today in real estate meeting at my office,
    they fear sales will decrease and the effect from China early in the morning will hit the market big time.
    Still don't know what happen, but really interesting to look for opportunity in this kind of market.

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