Homework and TradeSheet for Wednesday May 29th

May 29, 2019

May’s swing low is the most visible chart point for indexes:   DAX is just testing this level in the overnight session and all US indexes have tested below and will most likely open below.    yesterday was a Sell Short day in the SPs/Breakout mode.  This morning  – Buy any deep morning flush for a reaction back up and short the first intraday rally towards the 15 minute  pit session EMA.

$ – can still continue higher,

JY  US Will need three day balance before this swing comes to an end.

Coffee and grains – continue to trade from long side on intraday continuation patterns.

CL – HG have already gotten bulk of their retest down off the 240  bear flags in the overnight session.
There was low TP reading in HG, BP and DAX.

OPENING GAPS  basis  US session (8 AM  EST) – first trade is always to see how it tests back towards the previous US  pit session range.    Lots of opening gaps today!

 

(Blue on the grains = new 30 bar momo highs)

10:00 A.M. EST Bank of Canada Rate Statement & USD Richmond Manufacturing Index