So Far So Good

This morning’s entry on the NQ has already paid off as we just crossed the 1R mark a few minutes ago. Actually I had to go back and retook a snapshot of my charts but was happy to do so. Now as you know per the rules we have to close above the 1R mark – if not then we need to close out EOD.

Here are the respective levels and I even added one tick to the top of bottom which is something we ought to be doing in order to assure proper risk management. As you can see the 1R mark is at 3581.8 and if we close above it then put your stop right there. If not then close out and call it an easy peesy R earned in just a few hours :-)

The general context is looking more bullish again – we just busted through the 100-hour SMA as well as the 100-day and a NLSL we breached last Friday. If it can keep this up then the bulls may just pull this thing out of the mud. However, we cannot dismiss the fact that we are still plotting lower highs and lower lows on the NQ – until that changes the bears still have a good shot at dragging it lower.

Update on our AUD/USD campaign – good news: We just breached the 2R point and that means we are putting our stop right there at the EOD. Once again – should we drop back and close below it then that will be the end of this campaign.

Finally an update on the NG campaign – it managed to crawl its way above the 1R mark and it’s starting to look pretty good. Move your stop to 4,555 and that’s all for this one.

A few more goodies below the fold for my subs:


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Now that should keep you guys occupied for a while – have fun but keep it frosty.

Cheers,

April Fools Day 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.

This morning we’ve got a bit of turbulence on the map around 10:00am EDT when the ISM manufacturing data is being released. This will affect equities as well as any USD pairs – watch your behind.

Equities have been steaming ahead but not giving us much context – that sometimes happens but it cannot be helped. If you are already long or are looking for a way to get in then focus on the 25-hour SMA which at this point seems to be the pushing price higher.

Things look a bit more juicy on the TF side (Russell futures) and I am considering a long once that expiring NLSL meets its own 25-hour SMA. Entry would be near 1168.1 – stop below the SMA.

Bonds are again on a downside trajectory and I want to be long on a retest of the NLBL at 132’29. Stop would be above the 25-hour, which unfortunately is only providing soft context at this point.


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!

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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
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