Australian (ASX) Stock Market Forum

Futures trading journal - GB

There's a channel formed now, and this will be hard to break out of, especially after the big run up that preceded it. I trhink it will stay within the channel until the weekly imbalance at 4349.75, but there may be the occasional long trade somewhere in the mix.

30m

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L 4404

+40

And it's just broken out of that channel that I said wasn't going to happen.
 
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"Whilst the US taxman would obviously want a piece of the tax pie, there is an agreement between Australian and the US Governments which avoids any double taxation of income. US tax will be restricted to only dividends (15%) or interest (10%) that you might derive over there in your trading activities".
 
+27

4410 was the level. Missed it as I was busy doing other things.

This current bullish leg is a bit unusual in my reckoning. Think it's going straight up to 4450 or thereabouts.
 
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+27

4410 was the level. Missed it as I was busy doing other things.

This current bullish leg is a bit unusual in my reckoning. Think it's going straight up to 4450 or thereabouts.
Unusual in that there was very strong buying, but it wasn't printing any value gaps. I thought the buying would be more important, but the lack of value gaps in that move proved to be more important. The price dropped to fill in that area, now it looks to be heading to 4449.
 
Missed the second trade - damn it.

Thick FVG run up with low volatility was so bullish, then the inflation figures were positive on top of that.

4481 may be the top. Major trendline.

Made about 850 ticks in the last 6 weeks.
 
Between 4:30 and 5.45am, ES showed a classic and very obvious topping pattern.
Expecting a further correction down to 4456-4458 Mon am.
Longer term, onwards and upwards. There's a trendline target from way back in Oct 22, and it sits at 4560 approx. High time it was filed.

Gold may finally break free of the doldrums next week, since it has now rebalanced on the weekly TF.
 
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