TICK TOCK TICK TOCK
As I sit hear flat waiting for a few things to develop, I thought I would lay three of them out in here. The first one is Natural Gas, above. This market has been in a strong down trend for quite some time. We are now seeing a potential light at the end of the tunnel. Our oscillators are on the verge of turning up, and price is now moving sideways. Of course this could be just a little ledge and we will fall of another cliff. However, if we were to start trading above the trend line I have drawn on the chart I might be willing to take a swing at the long side. I am drawn to this by the seasonal pattern which as you can see is indicating a typical low about now.
I am not a big fan of buying into downward moves that are this strong so I need a bit more than what we have at this very moment, but this is one that I am watching. Next we have Heating Oil. Like many other markets, the chart patterns in this are remarkably similar to that of the stock indexes, so this market will not likely rally without a stock rally. However, we are getting that now, so this market has my attention.
I have the seasonal pattern displayed so that you can see how closely this market has followed that pattern this year. This is typical for the energy markets, they are amongst those that are heavily influenced by seasonal supply and demand. We are heading into a bullish period, and have made a higher low now, so this one has my interest here. There are so many different ways to get into trades that I will leave it up to you to determine if something you use is present for an entry. As I type this I have not gone long yet but am close to doing so. The third market I am watching is the British Pound, the chart is below.
Once again you can see how well we have followed the seasonal pattern here. We are a bit early for the low, but these are general patterns, you cannot nit pick the exact days on them. They are average prices. What interests me here is the false break to a new low after a 4 day sideways move, that reversed the next day. These trap patterns I just love. The one big problem this trade has is that it is amongst the weaker of the currencies, and I always want to buy the strong. I may play elsewhere, I am not sure at this point.
Those are 3 markets to keep an eye on, and one's I will likely play in the near future. The exception being the Pound where I may buy a different currency.
One final point to make. There was a comment posted by someone about how to make money on a blog. I make no money on this. I think the total ad sense dollars since this blogs inception is under $50, so I am the wrong person to ask about that. I could not find where the comment got published once I approved it so I thought I would just respond here. It might have been an attempt to get me to the link it showed, which is fine. However, in case it was a legitimate question, I wanted to address it.
Good Trading to Everyone