The Weekly Call – Trading Setups for the week of October 2nd

The Weekly Call – Trading Setups for the week of October 2nd

Trading Setups and Strategy for the week of October 2nd

The Weekly Call is a feature at The Art of Chart where we discuss setups and trading strategies for the coming week. This week we review Cattle, Gold and the Nikkei.

Live Cattle follow up

From our original call, we expected a bounce and then a move lower into the low window. This week is the low window and we are expected a turn before the 6th. Expecting a 7 swing move lower, so far 5 swings are done. This is an 18 month cycle low which means we may have a potential trend change in the coming months.  First target is $112, then a backtest and a breakout above the trendline by end of October.

 

2016-10-2-le-1h

Cycle Chart for Live Cattle

le_10-2Gold Follow Up

On our last post, we recommended waiting on Gold for a better setup long. We are still waiting. 1300 may prove to be demonstrated support this week. If seen this can be a possible long to 1361. Significant resistance at 1361 will call prices lower, break 1361 to the upside and Gold has a chance to rally to 1411.

The Nikkei

On the Nikkei, look for a short term pullback to as low as 16400 then a move higher into 17595.  No profits yet as we are looking to short this area. We do not recommend trading the Nikkei long, we are WAITING on the setup.

2016-10-2-nkd

Cycle Chart for the Nikkei

nkd

 

Have a GREAT trading week!!!

 

 

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

About the Author

Stan Nabozny
Stan is a 20 year retail trading veteran and Co-Founder of The Art of Chart. His specialties include using futures and options to trade Energies, Precious Metals, Equities, Currencies, Bonds, Softs, Grains and other commodities. Stan believes that Risk Management and Trader Psychology are more important that technical analysis and spends his time teaching and coaching other traders on these topics . Stan uses various trading systems and technical analysis approaches that integrate time and price in his work. See his latest articles here and www.huffingtonpost.com.

Comments are closed.