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Jay Norris
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Jay Norris is a 20-year CBOT floor veteran, author of the Best Seller "The Secret to Trading Forex, Futures, and ETFs: Risk Tolerance Threshold Theory", "Mastering the Currency Market", McGraw-Hill, 2009, and "Mastering Trade Selection and Management", McGraw-Hill,... More
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Trading University
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Seeking Alpha
My book:
The Secret to Trading Forex, Futures, and ETF's: Risk Tolerance Threshold
  • Aussie Shifts Lower, Gold Stays Sideways 0 comments
    Feb 5, 2013 5:51 PM | about stocks: FXA, GLD

    The Day to Day Pattern in the AUSDUSD turned lower on the close to shift the majority of patterns in its Risk Tolerance Ratio lower. This pattern shift opens the door for shorter-term traders to start selling intraday rallies.

    Risk Tolerance Ratio for AUDUSD 2-6-13
    W Primary Up
    D Secondary Up
    D S-secondary Up
    240 Day to Day Down
    L-T Micro Down
    I-T Micro Down
    S-T Micro Down

    In commodities gold disappointed by failing to close above 1680 to leave its intermediate-term micro pattern bearish. The Risk Tolerance Ratio for gold still remains bullish with the majority of patterns higher, though the current alignment - each pattern the opposite of the one above it points to continued sideways trade.

    Risk Tolerance Ratio for Gold 2-6-13
    W Primary Up
    W S-primary Down
    D Secondary Up
    240 Day to Day Down
    L-T Micro Up
    I-T Micro Down
    S-T Micro Up

    To see Jay Norris highlight trade set-ups and signals in live markets go to: Live Market Analysis. Jay is a Market Strategist at EosTrade.com

    Trading involves risk of loss and is not suitable for all investors!

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: FXA, GLD
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