Thursday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

The tape is moving in our favor but I don’t like it – at least not yet. First we haven’t seen any acceleration after yesterday’s sell off session. The next level of support on the TF is near 1144 and given the current gyrations I see little odds for a slice through that one.

And then there’s this – the E-Mini against the GBP/JPY, a popular carry trade currency. There have been a lot of gyrations and divergences as of late, thus expressing the sense of confusion we have been experiencing. Today’s jab higher on the GBP/JPY however is rather pronounced and am skeptical how equities can continue downward.

The bottom line however remains this – we continue to see volatile sideways gyrations without follow up moves. And those are really where the rubber meets the road – until we see continuation for at least two or three sessions I expect the current equilibrium to continue. Every day we continue in this sideways pattern increases the chances that this is simply a sideways correction – not good news for the bears obviously. So at this point the onus is on the bears to take this thing lower, and they are starting to run out of time.

On the dollar side my daily campaign got stopped out in profits earlier and I’m now interested in a long campaign right here with as stop below 80.16.

A few more goodies below the fold…


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Cheers,

Back From Whence We Came

I promised you guys sideways volatility and boy, I wasn’t kidding! It’s been another wild ride here in the churn zone and the level of frustration across the retail crowd is evident. My advice – keep your emotions under control and comfort yourself in the anticipation of the rewards that usually follow chop and the burn.

So obviously I’m not very happy about being stopped out at b/e yesterday just to trigger another short entry today. Frankly it sucks but I told you all that these things are the price of admission. I can’t promise you that this one will continue lower either but an entry is an entry and that’s that.

The 100-hour on the TF is now confirmed resistance and that should come in handy should we get another swing to the upside tomorrow on some dubious rumors or headline spike. Right now the TF is facing its first level of resistance at its lower 25-day BB. A few handles lower near 1144 we have the 100-day SMA, which however has no strong context, so I’m not giving it that much credence just yet.

The long term panel shows us a weekly NLSL at 1141, just a few handles lower – that’s strike 3. And then there’s the monthly NLSL near 1115. I would LOVE to see that one go bye bye in the next three sessions (i.e. before the monthly candle settles) but the odds for that are dubious at best. We can hope for it but we shouldn’t trade in anticipation.

You may recall my DX short entry near 80.5 – given today’s IP candle I’m moving my stop down to today’s highs plus one tick (it’s a future). Now it’s also producing an RTV-S (and of course and IP-S), so this is going to be interesting, especially given the 25-day SMA support looming below.

FWIW – being an expat (and earning in Dollars) I hate to see the greenback being stomped on week after week but that’s apparently the master plan, and there’s nothing I can do about it. Instead of bitching and complaining (or sarcastic discourse for that matter) of which I see plenty out there my preferred approach is to simply hedge myself a little by trading along.

Now IF you were a lucky sub this morning then you surely remember my favorite setup of the day, which was this massive BB compression on the 100-hour and 25-hour bands. I was expecting acceleration and got rewarded with an instant push higher at the very next candle. We love it when that happens, don’t we?

My new stop is now at the next spike low (already locking in ~1R) – which is my campaign management style for strongly trending campaigns. Let’s see if this one can’t climb its way higher.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,

Wednesday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

The whipsaw continues – yesterday’s candle produced an inside day period which theoretically has already triggered a long. Thing is though – I didn’t take it yet.

As you all know I have been playing the TF and it kicked me out of my short campaign at break/even yesterday. It has also produced an inside period but that trigger has not been breached yet.

If you look at the hourly then you see the 100-hr SMA holding up here – at least as of now. So this gives me additional context and in this crazy tape I need all the help I can get. So if I get a long breach on the TF then I’m willing to take that trade – of course we also have a short trigger on the books, just for the record.

Quick update on one of our short term entries from yesterday morning, the NZD/JPY. It triggered as hoped and has been working its way higher rather nicely. As we may have a runner here my approach will be similar to the campaign management we employ on CrazyIvan.30 which is geared toward trending charts. After the ISL it advances stops further to the most recent spike low. The last one I see was at 87.85’6 – at least on my TOS feed – two candles ago we produced a double bottom and that one doesn’t count.

More goodies below the fold for my intrepid subs…


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Cheers,





    Zero Indicator
  1. recent misdeeds

    1. Escape Velocity
    2. Get Ready For The Whipsaw And Squeeze
    3. Equity Curve Trading With Crazy Ivan
    4. Looking A Bit Iffy There
    5. Kicking Off This Week
    6. Drop The Baseline
    7. Lazy Thursday Morning Briefing
    8. Back In The Thick Of It
    9. The Squeeze Is On!
    10. Return Of The Market Mole
  2. poll


  3. swag outlet!

    Evil Speculator SWAG Outlet!


    NinjaTrader
    Kinetick

    search warrant