Tuesday, October 7, 2014

Market Journal - Oct 7th 2014

Well, we are in a trading range now. I think we have tested the higher end of the range and now its time to test lower. Most likely today will be bearish and we should trade lower with a bearish bias. I will be looking for opportunities to scalp on the short side on ES.

Gold finally had a good bounce. Tough to say for sure but I dont think downside is done yet - but for more, we need to break below earlier lows of 1178.

Best,
PM

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