These are the stocks I’m stalking for trading this week. The same drill applies: sell Puts and then, if exercised, selling Calls. All the time just raking in Premium.
Flag patterns have been brewing on the FX Indices for over three months but both are now coming under pressure. Momentum is building on both Flag patterns so any watch for any sustained breakout as this will have follow-through impact for FX trading. There isn’t a lot of scheduled data for next week and the US Thanksgiving holiday might keep things a bit quiet but watch out for ongoing US tax reform debate to impact here as well.
The US$ has recovered a bit after US CPI and Retail Sales data and so that has slowed the movement with some FX pairs. This recovery triggered a 5 R breakout trade on the USD/MXN though, a pair I yesterday suggested was worth watching.
There have been a number of trend line breakout trades and great new TC signals over the last 24 hours. Whilst a number of these came from the FX cross pairs the recent Flag break on both FX Indices might be able to take some credit as well. The week is not yet competed but the weekly Flags on the FX Indices must certainly offer some hope to FX traders!