I reversed quickly on all the positions I took from the previous post. Though we're clearly at what look like reversals, the trends continue. I'm short on the loonie now, long €.

€ uptrend is broken.

I'm shorting EURUSD here at 1.3598. This quick runups, regardless of reason, rarely last more than 8 days. The consolidation short of the former high of 1.3666 shows there's some doubt about the breakthrough. It's likely, and healthy to pull back here.

NZDUSD looks over as well, but I'm not shorting, just closing. Triple tops aren't reversals.

I like EURJPY short and USDCAD long here. The loonie is moving in response to oil, should be a good reversal.

The waiting is the hardest part

It's really hard to do nothing. Markets are trending as predicted: spy's running, kiwi's running, copper too. What's there to do?

Nothing.

If you read the markets well that's the overridding message: do nothing. Take your positions, hold them. But, that's hard. The charts show volatility, indecision, opportunity.

Try looking at the chart and saying, "Good!" Then walk away.

So you're saying, "But I don't have any positions." Okay. Live with this fact: you only enter when there's an entry. Entries are reversals. We're trending now. You need to wait. One day the chart will say, "Enter here." Calmly, and without any of the hollywood-induced passion. Just enter, then manage.

Cocoa's pulling back here. There could be an entry in as many days as it takes for you to enable commodities trading on your account.