IIFT Daily Note with Peter Brown

Happy New Year – 3 heads for 2018

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Good Morning All

I hope you all had a great Christmas and are ready to take on the markets in 2018 with fresh and well disciplined minds.

We will have some changes coming for you over the next couple of weeks. We are introducing 2 more contributors to the IIFT Daily Note with each daily post being a collaboration of Peter Brown, Niall O’ Connor & David Flynn to give us more fire power coming into the New Year.

The New Note will be posted for 8am each morning. It will have a new page and a new layout which will  include daily trade set ups along with some new products and much more….

In the meantime lets look at where to start today:

It is always wise to approach January with cautious baby steps. With professionals slowly arriving back after a few weeks off it will take some time to digest what has developed since December and for the markets to really get to grips on direction. In order to try to predict these moves we all need to get in tune with the big players as they return.

Today should be a day for paper trading and/or very low risk trades just to get a feel for it all and get you back in the market mind frame.

The place to start the week is with your daily strategies, Peter’s high frequency trades, the fade, straddles and S&P Gap, from here we will build as news develops with Traders back in their seats.

We will have more detail and trades for you as January progresses.

http://www.iift.ie/economic-calendar/

Nothing of note here today.

Comments and questions to pbrown@iift.ie

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S&P (Rolling Daily)

No reason not to continue to buy on dips. I would take a small buy trade if it dips further to a support level. 2658 is a good level but quite a distance away at the moment.

Conditions: Choppy Resistance: 2690 Support: 2658

Wall St (Rolling Daily)

As above.

Conditions: Choppy Resistance: 24,850 Support: 24,630

DAX (Rolling Daily)

This has been caught in a 2 month range between 12850 and 13300. It will be interesting to see where we go from here but looks weak at the moment. A small buy at the bottom of the range would be ok. If it breaks out to the downside we are sellers.

Conditions: Choppy Resistance: 13,000 Support: 12,850

FTSE 100 (Rolling Daily)

A strong bias to the upside still as it continues higher since the Christmas break. On small buy on dips to support. Resistance is likely to be broken in the next 24hrs.

Conditions: Choppy Resistance: 7,700 Support: 7,650-60

EUR/USD (Rolling Daily)

USD has completely flopped over the Christmas week and there no reason just yet to believe it will turn around. FOMC Later in the week might give it a chance to turn around. A Buy on dips.

Conditions: Choppy Resistance: 1.2080 Support: 1.2000

USD/JPY (Rolling Daily)

As Usd has flopped in the last week we give bias to a sell near resistance today.

Conditions: Choppy Resistance: 113.00 Support: 112.50

EUR/GBP (Rolling daily)

Looks strong so far finishing out the year at a higher level. Buy on dips today.

Conditions: Calm Resistance: .8910 Support: .8865

GOLD (Rolling Daily)

Gold and Silver bottomed out in December last time we posted and no surprises to see it higher as we come back after the break. No reason to be shorting this. Good support at 1300.

Conditions: Choppy Resistance: 1315 Support: 1300

SILVER (Rolling Daily)

As above

Conditions: Choppy Resistance: 17.20 Support: 16.85

 

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