May 30, 2006: TD

The market wasn't kind for the shorts today and on the daily looks like it'll consolidate around this area. Trade setups marked on chart.

I'm still on a break and won't trade this week as well. I need to rest up.


Nice H&S on Gold. Watch how the currencies and Gold rallied in unison - further confirms the correlation. The 8-10EST is an interesting period.

Looking at currency charts it seems that any rallies in the Globex & European markets up to 8amEST are subsequently sold during these 2 hours. Can it be that traders take their profits during that time? Don't know but something for me to follow.