Looks like we've got a failed follow through after FOMC. The Emini has closed back inside the FOMC day bar and so we're vulnerable to test the Low of that breakout bar. Let's see how the Emini trades overnight into Wednesday.

Looks like we've got a failed follow through after FOMC. The Emini has closed back inside the FOMC day bar and so we're vulnerable to test the Low of that breakout bar. Let's see how the Emini trades overnight into Wednesday.

I've been Short the Aussie Dollar and Long the US Dollar for almost 2 years now. But the time has come to take some profits. For every US$1.00 I got A$1.31 last week. Which was just too tempting to pass up. I'm keeping 2/3rds of the position on though because I don't think the top is in on the US Dollar or bottom in for the Aussie Dollar.

I've been Short the Aussie Dollar and Long the US Dollar for almost 2 years now. But the time has come to take some profits. For every US$1.00 I got A$1.31 last week. Which was just too tempting to pass up. I'm keeping 2/3rds of the position on though because I don't think the top is in on the US Dollar or bottom in for the Aussie Dollar.

For markets to reverse, everyone has to have moved to one side of the boat. Then as the boat tips over, they panic and rush to the other side. Call it emotions or physics - when everyone has bought there are no buyers left and the uptrend stops. And that's what Exhaustion Volume shows you - when everyone has bought, in this case.

For markets to reverse, everyone has to have moved to one side of the boat. Then as the boat tips over, they panic and rush to the other side. Call it emotions or physics - when everyone has bought there are no buyers left and the uptrend stops. And that's what Exhaustion Volume shows you - when everyone has bought, in this case.

Nice little sell-off on the Emini that started on Thursday last week. We've travelled about 70 Emini points now. But we're starting to see the Professionals get interested and they were picking up the Lows into Tuesday's Close. So we'll get a little bounce. But remember, it's not over until we see Pull Back to End of Trends rippling through the timeframes.

Nice little sell-off on the Emini that started on Thursday last week. We've travelled about 70 Emini points now. But we're starting to see the Professionals get interested and they were picking up the Lows into Tuesday's Close. So we'll get a little bounce. But remember, it's not over until we see Pull Back to End of Trends rippling through the timeframes.

Another useful Emini day trading Rule of Thumb: you should not expect more than two trend moves in one day. The exceptions are FOMC days and small range days. But normally you'll only see two nice 8-10 Emini point trend moves in a day.

Another useful Emini day trading Rule of Thumb: you should not expect more than two trend moves in one day. The exceptions are FOMC days and small range days. But normally you'll only see two nice 8-10 Emini point trend moves in a day.