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,

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 NQ inside day triggered this morning and if you set your alerts then you ought to be in a long trade right now with a stop below yesterday’s low. The odds here are still mixed – let’s see if it takes off.

Gold got stopped out at 1R this morning. It sucks IMO because I have an inkling it’ll really go gangbusters after shaking out some of us retail monkeys. But the rules are the rules, sometimes for the better and sometimes for the worse.

Not much else going on this morning on the futures side – I did however find a few good entries over in Forex:


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Cheers,

Bounce It!

Equities seem to be hooked onto Juicy J’s recording studio as they’re on their way to winning his much publicized twerking scholarship (cough it back up Ms. Holmes!). Now we’re back at the bottom of ‘ze zone’ and whether we’re bouncing back up now is of course the big question as there’s not too much in terms of technical context.

As a matter of fact all we really have right now is our trusted volume profile chart on the spoos:

As usual a spike into the no fly zone after which point the bids dried up quickly. Basically we’ve now built our house of pain with the floor being near 1830 and the roof somewhere around 1880 – 50 handles of market maker bliss.

If you haven’t lost your appetite for equities then that IP candle on the NQ may look tasty. Triggers on the chart – not a bad range and I may throw 1/2R on it.

I tried to get in early this morning but got whipsawed out. That hourly NLBL would have been a great catch per our plan but it didn’t work out for me.

Gold update – I actually realized that I committed an operator error. Technically I should have closed out on Friday as it had touched 1R and then pulled back. Well, sometimes it’s better to be lucky than to be good – I’m staying in it and will move my stop to 1306 – 1R locked in.

NG – almost touched the 1R mark today and here we also will keep her running.

Wheat – a setup this morning which I also tried to get in but then got stopped out. Afterward I was heading to the gym and I missed the spike higher. BUT this is a textbook example of an inverse H&S as that little head fake is very very typical. The perfect entry IMO would have been that little IP near today’s bottom. If you caught it then call yourself one lucky bastard (probably not – if so speak up and reel in your glory). Anyway, good chart – keep it around as a great example of H&S formations. They are not easy to trade despite their popularity.

AUD/USD update – 1.5R in one day – that’s how we like it. Move your stop to 0.9339 – you’ve locked in one R.

More below the fold for my intrepid subs:


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Cheers,





    Zero Indicator
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