This from November 14th:
I’d expect that “this time around” we’ll likely see the price of crude reverse here around 91.70 – 92.00 dollar area, with the usual correlating weaker USD.
I’m going to start running short-term technicals on stocks here soon, as well hope to offer those of you who “don’t trade forex directly” additional options and trading opportunities.
Dig up “oil related stocks” over the weekend and plan to get long.
Oil now touching 97.00
This from November 21st:
I’m not going to get into all the details here at the moment as……I imagine the majority of you could really care less.
“Just give us the trades Kong – what’s the trade Kong??”
The Australian Dollar is in real trouble here.
AUD has already come down considerably but…..I might see a “waterfall” coming – in the not so distant future.
AUD has fallen an additional 300 pips since.
This from December 1st:
In the simplest “minute to minute” sense I could easily bet you 1000 pesos that as the Nikkei trades lower, you can look forward to a lower open in the U.S
Nikkei now down -500 points as SP trades lower for 2 days in a row.
If these kinds of “market gems” aren’t providing you with sufficient information, to be placing profitable trades then I’ve got no idea what the hell you’re doing over there.
Granted you’ve got to be pretty quick these days to catch some of this but…..aside from the floating heads on your T.V just telling you to buy, buy , buy – how else are you framing “profitable” trade ideas?
I assume I need me to get more specific right?
Kong you are the man!!! Aussie going to try and rebound or keep dropping form here?
Tough to keep chasing AuD lower against USD ( maybe 89 )but……….she’s got piles of room to fall vs JPY if / when JPY strength picks up.
Jpy looks good to long…even the news of the stimulus for the sales tax is out.. daily jawboning by the boj is having less effect on the yen
Kudos on the Euro tweet
For what its worth the info has always been great, Kong. Doesn’t really need to be much more specific. If I have a question I’ll ask. Enjoy the day bro
Not to go off topic here. But have you guys been trading bitcoin, or know if any forex brokers that offer it. At this point I think it’s still highly illiquid. I don’t know many forex traders, so I’m just trying to reach out to forex traders abroad.
We’ve a Bitcoin pro here yes…..hopefully he’ll get right back to you.
Hi Kong, any chance of you posting some technical analysis on some of your forex trades? i would love to know how you use- interpret the fibonacci’s , momentum indicatores, ema’s etc!!
I’ve been putting it off – short of the odd post when my custom tech “The Kongdicator” does it’s thing and I “give it away”.
In general I follow pure price action, with charts essentially “naked” short of a standard RSI type thing, and my custom tech.
I don’t trade Fibs – but draw so many lines of support and resistance that “of course” the Fib levels are constantly marked.
It’s pretty simple really as the Kongdicator pinpoints extremely accurate “short term entry points” when longer term time frames have met a minimum requirement.
I try to stay out of markets for the most part…..then enter at “as oportune” time as possible.
The paid service / Kongdicator and all the other bells n whistles are comin but…..I do appreciate my time at the beach too.
I took the WestTX oil trade, but did not get my stop right (too close, as I placed it right under the “breakout” candle of Nov 22, which turned out to be a false breakout). You indicated you expected a low/turning point around 91.70 – Oanda showed a low of 91.68 on Nov 27 (tut tut Kong – 2c off! (just kidding!!! 😉 )
My question is: how did you determine that turn-around level in advance so accurately? Studying the (daily) graph, I can see on June 02 & June 03 it touched 91.12 – 91.20 – but that’s below that 91.70 level.
And how would you determine the profit target on this – the immediate past high of ~112 on Aug 28/29?
By the time you’re concerned about .50 cents on an asset trading at 90 some bucks – we’re really just splitting hairs.
I get my levels / prices beamed directly from the future so I can’t really help you there, but in general a good tip might be to draw your horizontal lines of support and resistance with a crayola crayon and not a laser pointer.
The general area looked right for support – giver er take a nickel er two.
Long Yen and short USD huh 🙂