As i suggested the first two days of this week trading has been extremely volatile. The 797.00 Zone-Trader Yearly Pivot continues to hold resistance but with the market balanced on the year trading conditions should continue to trade in a volatile manner. Look for V patterns and sideways price action until we get some clarity on direction as being derived from the Quarterly Profile. TFH12 still has not made a
bullish breakout and it has not failed to make one either currently on the Quarterly Profile, which is adding to the volatility.
Might be a good time to look at some bull call spreads on the VIX. I will update you as soon as possible on any signs of the volatility decreasing and directional clarity, but for now sideways pattern whipsaw i would expect. Reduce volume and look for high probability setups. Try to identify the range and look for sell signals near the top and buy signals near the bottom, and stay out of the middle as this is where the volatility will be the greatest.
Keep you eye out for more post covering the Euro, Gold, and Crude Oil.
bullish breakout and it has not failed to make one either currently on the Quarterly Profile, which is adding to the volatility.
Might be a good time to look at some bull call spreads on the VIX. I will update you as soon as possible on any signs of the volatility decreasing and directional clarity, but for now sideways pattern whipsaw i would expect. Reduce volume and look for high probability setups. Try to identify the range and look for sell signals near the top and buy signals near the bottom, and stay out of the middle as this is where the volatility will be the greatest.
Keep you eye out for more post covering the Euro, Gold, and Crude Oil.
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