CFD Trading Strategeis Report - 30 Minute Video Detached

EarlyBird Report  – 11 October

Dow Jones – 11,433 +2.79%
Base Metals Positive
US Gold CFD: 1670
Oil WTI CFD: 85.66
Copper CFD: 337
US Dollar CFD: 77.83
EURUSD 1.3657
AUDUSD 1.00
Dow Jones CFD 11,400
FTSE 100 CFD: 5400
SPI CFD 4250

US News
NEW YORK (Dow Jones)--U.S. stocks rose sharply as investors cheered a pledge from France and Germany to resolve the euro zone's banking and sovereign-debt troubles.

The Dow Jones Industrial Average rose 278 points, or 2.5%, to 11381. All 30 Dow components rose, with bank stocks leading the charge higher. Bank of America climbed 4.7% and J.P. Morgan Chase advanced 4.3%. The gains came after the blue-chip index managed a 190-point rally last week.

The Standard & Poor's 500-stock index gained 34 points, or 2.9%, to 1189. Each of the index's 10 sectors traded in positive territory, with energy, financial and material stocks posting the biggest gains. The technology-heavy Nasdaq Composite surged 76 points, or 3.1%, to 2555.

Commodities

US Gold CFD: 1670
Expect a retest back to 1650, that also five swings now across this level and a five wave pattern normally represents a triangle pattern, so the pattern can now be completed, confirmation would be if it traded back under 1650 and found it as resistance, then we can short it from there. On the long side if the 1672 and 1680 which are part of SG2 become support then trade up close to 1700 and exit
It was interesting to see Silver stay under its last intraday high, this helps confirm the larger triangle correction in Gold

Oil WTI CFD: 85.66
Oil will push higher in line with Indices and 11,500 for the Dow is a very important level, so this can take oil anywhere up to 90

Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.38+
US Nickel:             Last: 8.69+
US Zinc:                Last: 0.87+
US Aluminium       Last: 1.00+

                            CFD Trading Strategeis Report

Copper CFD: 337
If we take the move up in line with the Dow then the 340 to 350 would be about right for the pattern, the abc correction for wave (iv)

Forex

US Dollar CFD: 77.83
The larger correction is unfolding from the 80 as we see the Euro surge up from its six week low, we should expect the Dollar in the 77 to 76.50 range in line with Indices, such as the Dow running into 11,500.
From a trading point of view you need to work with a retest back into 78 and the 77.72 is the key price point to work with.

EURUSD 1.3657
TradingLevels: Seeing the first reaction from 137, the reaction move down is in five waves so we can expect and abc corrective pattern before pushing higher. 138 The 137 and 138 are the last two highs so resistance will be there
Wave count: A move above 137 helps confirm the Oct low as the low of the six weeks down trend, this would also line up with the five Minor waves down making Intermediate Wave (1) in the Indices? The 61.8% retracement for the Euro is at 140, but the 138 holds the first levels of supply and the 50% retracement level, roughly, the 13772 would be the timing element
Trade Strategy: The weekly Short trade has now been stopped out 1.3533, that was a good six week trend and we could see over the last few weeks of the trend slowing down as it bounced into its lows and I’m only guessing that the Oct low is the low for the time being, as the current move up would need to display a larger five wave structure and yes it certainly helps if the old highs are taken out at 137 and 138, the current wave structure up would suggest, but the Dow at 11500 and the SP500 at 1200 will play a part in hold the markets

AUDUSD 1.00
TradingLevels: Expect a reaction at 1.00 (TL1)
Wave count: Five waves up from the last low around 94 to 1.00 this five waves would be wave (i) or wave (a) of an (a) (b) (c) correction, more likely the abc
Trade Strategy: Look for a move to 98 in due course, this would only be a corrective move of wave (b) in three waves. On an intraday basis a push above 1.00 can occur first to complete the smaller five wave structure from 9735 low,  try and count the series of five waves up from there

Indices

Dow Jones CFD 11,400
TradingLevels: A move to 11500 (MediumLevel) and reaction back to 11400 or 11300 then a move to 11650 as the possible top, the top can also be at 11500 this topping can take until next Monday Tuesday.
Wave count: Still working with the Impulse wave up (five wave structure) 
Trade Strategy:  No Strategy, just use the sublevels between each 100 points

S&P500 CFD: 1,188
TradingLevels: While the price stays above the 1120 the market is positive, yes it can come back and retest 1144 – 1128 and we should see a larger correction at SG2 1172 zone
Wave count: I am counting the five waves up in the SP slightly different to the Dow, the SP can be counted with its fives waves up to 1200.
Trade Strategy: Reaction into 1200

FTSE 100 CFD: 5400
TradingLevels: With 5300 as support you would be naturally long, exiting at 5400, and if 5400 develops as support then trade it to 4472 as the 4500 will have large orders waiting there
Wave count: The five waves up are getting close to completing, but can take the price to 5500
Trade Strategy: wait for correction at 5400 then look for support on 5400 scaling in through SG1.

SPI CFD 4250
TradingLevels: The SPO and ASX200 should push higher to 4300
Wave count: Still counting the five wave structure up.
Trade Strategy: Trading the Sublevels Long

CFD Trading Strategeis Report
Summary

Markets still have a further upside, the ASX 200 to 4300 and the Dow to 11500 and the AUD above 1.00 however once these levels are reach its only natural to consider a corrective pattern.
The weekly cycle would see Wednesday close or Thursday open the high, there is another cycle that can see next Monday Tues as the high. So any long positions you have should be fine for the time being.

Trading Quote

Not accepting a failure is to not learn from it.

Today's Financial Events
Time     Currency   Detail     Forecast    Previous
  
10:50am  JPY        Current Account    0.51T 0.75T  
11:30am  AUD        NAB Business Confidence     -8  
11th-15th  CNY        New Loans    551B 549B  
11th-15th  CNY        M2 Money Supply y/y    14.1% 13.5%  
4:00pm  JPY        BOJ Monthly Report      
4:00pm  JPY        Economy Watchers Sentiment    46.9 47.3  
4:00pm  JPY        Household Confidence    37.4 37.0  
6:30pm  EUR        ECB President Trichet Speaks      
7:30pm  GBP        Manufacturing Production m/m    -0.1% 0.1%  
7:30pm  GBP        DCLG HPI y/y    2.3% -1.5%  
7:30pm  GBP        Industrial Production m/m    -0.2% -0.2%  
11:15pm  CAD        Housing Starts    187K 185K  
1:00am  GBP        NIESR GDP Estimate     0.2%  
1:00am  USD        IBD/TIPP Economic Optimism    43.2 39.9

NOTES: CFD Trading Strategeis Report
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this report is written while markets are closing/trading
3. Always think things out for yourself, we are only here to bounce ideas around.