Kicking Off This Week

Today is another national holiday over here in Spain (Easter Monday) and thus I’m posting the morning update a bit earlier as usual as my entire day shifts around a little. As some of you know I have been coding the entire long weekend in order to complete a much anticipated CrazyIvan release. It’s pretty exciting stuff and I’ll be devoting an entire post to explaining what all the hoopla is about. But in the interim I have a ton of very juicy short term setups on the roster this morning – especially Forex is off the hook. So if you’re around it’s time to get busy folks – let’s wield the iron while it is hot:

Starting with equities – the spoos are holding nicely thus far and the 25-hour is carrying without breaking a sweat. There’s however the matter of that daily NLBL at 1,867.5 which expires tomorrow evening. As you can see the range of candles is getting smaller as we are approaching and it’s possible that we are going to see a little shake out today – very hard to gauge as it’s still early. I do however have a ST entry on one of its three futures brethren – but I’ll keep that one for the subs ;-)

Here’s a nice one on the Forex front – EUR/CAD – nicely trending up and I want to be long above that hourly NLSL near 1.5288. My stop would be below 1.5215, putting it near that 100-hour SMa.

Quite a bit more below the fold – please step into my lair:


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It goes without saying that you should split your exposure amongst correlated pairs – don’t put 1R into all of them as you would be effectively trading the same currency with a higher R percentage. Alright, have fun but keep it frosty!

Cheers,

Dude Where’s My Moto?

As some of you already know I started the day dealing with a family emergency but it didn’t stop there. Just when I thought that I had a lid on things and got ready to hit the gym for some much needed stress relieve I realized that someone had grifted my moto overnight. You should have seen my face as I was standing there with my helmet in my hand and cursing like a sailor with turrets. I thought it couldn’t get much worse but somehow this day continued to prove me wrong. Well, I’ll spare you the ugly details – nobody likes a cry baby.

Although the Spanish cops don’t have the notoriety of the LAPD I have a feeling they won’t have any problems identifying the ole’ Mole mobile – it has some rather distinguishing features. Well, as the universe seems to have it out for me today I better treat carefully and keep a low profile. So forgive me if I run through today’s charts quickly so that I can curl up somewhere and lick my psychological wounds ;-)

Quick update on CAD/CHF which triggered today. We are about 0.7R in and nothing really happens until we touch 0.8058’1. If we close above it we’ll advance our stop to the 1R mark – if we push above it and closer below it we will exit EOD.

Equities are still on the run and thus far the 25-hour has been holding like a champ. There’s the 100-day BB approaching above and it may mean soft resistance.

The volume profile is running thin but that doesn’t mean that some headline event tomorrow can’t pop it higher. You know how the cookie crumbles.

Possible Failed Shooting Star setup on the NQ starting tonight. I’m not holding my breath but it’s the only ticket on the equities side right now.

I do however think that the bulls may have gotten a bit ahead of themselves here, so I recommend caution on the long side. For example here is the NYSE advancing/declining ratio which is dropping against a rising SPX.

But I got more where that came from – please join me in the lair:


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.

Alright, that’s all I got for today – time to release the hounds!

Cheers,

CAD Me If You Can!

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.

My favorite setups this morning is the CAD/JPY – unfortunately it’s already run off a bit. Now, short of chasing it I’d be looking out for a last kiss goodbye move – i.e. a retest of the NLSL near 91.2. Long there and put your stop a healthy distance below the 100-hour SMA.

Equities are looking interesting but still ambiguous, which has been the theme of the last week. Good context via the two converging SMAs but I would want to see a breach of either the NLBL or the NLSL, which are however over 8 handles apart. I’ll be taking a trigger and then place a stop beyond the farthest SMA.

So this will take a bit of finesse, n’est-ce-pas? But there may be an easier way to hitch an early ride on equities – please join me in the lair:


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,

 

 

 





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