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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, EUR/USD, USD/JPY Weekly Expiry - 9/23-30/2013 !!!

    The new Top Five Tips of the week from Michael are here. Check them out and find which are the best binary trading ideas for this week. Test them on CommuniTraders!

    Originaly posted by Michael Hodges.

    The S&P Is Over 1700

    S&P 500
    Call/Put = Call
    Entry = below 1705
    Expiration = One Week

    Whewee! Last week was a roller coaster! The first half of the week was an emotional roller coaster of speculation of what the Fed would do, the second half a roller coaster of market prices as the S&P moved up, then down. I’m glad I sat it out, it was fun to watch it all happen while my account balance remained the same. Sometimes you win by not losing I say. Once the smoke cleared the index had made a new all time high and then sitting on the important support level of 1700. <p>

    The indicators are still mixed as I described last week. The longer term weekly charts are still have bearish momentum but it is also still in decline. The daily charts still have bullish momentum but that is also in decline. It appears at this time as if the daily traders are fighting the weekly traders and I think the weekly ones will win. Since the long term trend is still up, the index is above support and the economy is mildly bullish I am trading calls. My target entry is below 1705 with one week until expiry.

    Coalition In Germany?

    Call/Put = Put
    Entry = Above 1.3500
    Expiration = One Week

    The Euro weakened after Angela Merkel’s center-right party won in this weekend’s elections. However, one of her key supporters lost and opened the door to a potential coalition with the Social Democrats. I’m no political analyst and I don’t know much more about German politics than what I have already said but I can recognize an opportunity for the market to worry itself to death when I see one. The eur/usd fell on the news and broke the 1.3500 level in today’s trading. The pair is indicated at the top of a range and looks good for a downward leg. I am trading a put with a target entry above 1.3500 and one week until expiration.

    Whats Up With The Yen?

    Call/Put = Call
    Entry = Below 99
    Expiration = One week

    The USD/JPY did not break the 100 level. The Fed’s lack of tapering is what I think is the cause (or lack of cause). The pair has been trending sideways ever since breaking out of it’s long term triangle formation. At this time it is sitting on the support of the upper boundary of that triangle with mixed indicators. The pair could be range bound until the next round of central bank meetings which begin in two weeks. I am trading a call this week because the pair is sitting on support and has room to move up until it hits resistance at 100. I do not see this pair moving lower at this time. My target entry is below 99 with one week until expiry.

  2. #2
    M.J is offline
    Veteran Member M.J's Avatar
    Today, usd/jpy touched the probable weekly low. I agree it is expected to end this week in gains.
    About eur/usd, I am expecting bulls as downward move is not very convincing. But most of it also depends on fundamentals this week.

  3. #3
    Legendry Member Michael Hodges's Avatar
    fundamentals aren't changing so far as I can see, not until the next ECB meeting, or BOJ meeting, or FOMC month could be big for changes to fiscal policy.

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