DX double top? EU long entry at 12560/12600

we can long eu if us$ index test 88.50 again at 12560/12600 level for a double top play.

we will tank soon? EW of SPY and GBP/JPY

ES wave 5 under way to test Nov low?(from http://tradingsigns.blogspot.com/)

GBP/JPY has a target of 114-116 ?(chart drawn by Piters from FF)

let's ride the sweet down move.

see how FIB matters for ES trading

ES break below 38.2FB and bounced off 23.6 FB,short order pending at 38.2FB(852 area)

GJ is ready to drop

GJ price stays below H4 gann already.,target at 131.46(H4 50EMA).wait for Gu to clear the 14760 support then we will drop more faster.
short order filled at 134.65.SL 100-150pips TP@ 131.46

shorted GU@14760,TP 14580 area, SL 14860

where will we go before OE?

bear and bull are so confused by the movement of market.To make it clear,i think we are still in a range before any imporvement or deterioration happening.

we need to see how the stimulus package& banks solution effects on the real economy for a few weeks at least to justify a final plunge of the market. Before that we are still in a big range 800-900 mostly.

ES may have another leg up to 905 area at most(or just 874-890) and head down from there to the low of the range.But we need to be flexible to fade this rally and watch out the correlation in different market.Next week promises more volatility and traders will need to remain flexible and avoid getting married to directional positions while market conviction remains so weak.

US$ index had hard time to break above 86.78;watching out the assending TL if we break below it and 84 area,us$ are setted for deeper weakness.The stimulas packages shall weighs on the us$.

the 10yrs notes kept losing ground on next week's larger than usual aution.

Tue $32B in 3 yr notes at 1 pm.Wed $21B in 10 yr notes at 1 pm.Thur $14B in 30 yr notes at 1 pm.Also, the Treasury is increasing its debt offering to record levels due to the financial crisis.Offering new monthly 7-year note auctions. Doubling 30-year auctions from 4 to 8 per year, may go monthly.Considering 4-year notes, 20-year bond and a "super-long" 50-year bond.

Anyone who is trading in uk, there is a good short entry now on FTSE march contract.

shorted EG around 0.8982/EU 12950

EG shorted 0.8982 TP previous 0.8800-0.8850/SL 0.9030
EU shorted 1.2950 TP 1.23-1.25/SL 1.3085

closed postion for EG0.8945 EU 12850

closed my short of GJ@12730/

3.4% gain.
one lession learned is that: dont trade forex at month end close on friday,too wired price action.

shorted GU at 14236 SL 14290 TP 14080/14100 area,intraday play.

closed short of GU at 1.4258 on better than expected data.

inflation expectation emerging

1)For the first time since 2007, Treasury investors are betting that inflation will accelerate. The yield on 10-year notes exceeds the consumer price index by 2.74 percentage points, the most since December 2006. The gap between two- and 10-year rates widened at the fastest pace in a year last month as traders demanded more compensation for longer-term debt.

Gold/oil shall again bought as protection against inflation while US$ will start to weaken.Pls pay attention to these new development closely.

2)my short on GJ turns out to be good as for now. Looking at EU,i'm pretty sure we will revisit 123-125 area before any major correction higher.