Knocking On Heaven’s Door (Again)

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.

2014-09-18_spoos_hourly_briefing

The spoos are back from whence they came a bit over a week ago – the upper 100-hour BB line beckons and the bulls are happy to oblige. The BB is still expanding and if momentum can be maintained than a break above the 2010 mark may be in the cards before the Friday close. However, be warned – we are back in whipsaw territory – the smart play right here and right now is to be short with a stop above about 2007. Little risk for potential easy gain – if stopped out flip for long positions, unless it happens late Friday at which time we may be a bit late to enjoy a ride higher (you don’t want to sit on open futures positions over the weekend).

2014-09-18_silver_briefing

Not much going on this morning – we have a potential short here on silver. Frankly I’m not too excited about it but am playing it with 1/4 R just for the record. Stop above the SMA.

One more goodie below the fold – please step into my lair:


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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,

Post FOMC Madness Update

Finally this month’s FOMC madness session is behind us. As usual I won’t bore you by regurgitating any pertinent tidbits of the day – if you’re interested in the noise I’m sure you’ll know where to find it. Let’s look at some charts instead – shall we?

2014-09-17_spoos_HT_update

Yesterday I told you guys that such a sharp jump off the lows usually suggests continuation higher. So far that’s exactly the scenario that’s been playing out. If you’ve been taking Scott’s hammer time setup – good job and you may now move your stop to the break/even mark.

2014-09-17_spoos_update

Interesting range on the hourly day – we touched both sides and that now establishes the SMA and the upper BB as respective break out / reversal points. However, as I said – at this point odds support continuation higher. Unless we breach below 1982 the bears are officially toast (again).

2014-09-17_NQ_update

The NQ is now approaching a daily NLBL which is also near the 25-day SMA. IF it manages to breach higher then more upside is pretty much procedural.

2014-09-17_VIX_update

And what really really hits below the belt line is the 18% drop on the VIX since yesterday (and we also touched it earlier today). If you were sitting on puts then your premiums just got flushed down the toilet. If you were long calls then (depending on your strike) you may have actually suffered a loss today. Vega squeeze is a bitch indeed.

2014-09-17_USDJPY_update

Update on the USD/JPY campaign – I got stopped out today and then re-entered just in time for the ride higher. Taking 50% profits now and converting the rest to a daily campaign. Never ever underestimate the potential for extended squeezes (long or short) on the FX or futures side. Never.

BTW, that was one beautiful BB squeeze on the hourly – I hope some of you rats took this one.

2014-09-17_EURNOK_update

The EUR/NOK is still in play but it’s so-so – I’m keeping it in play and my stop will take of the rest if it must.

2014-09-17_EURJPY_update

EUR/JPY – another short term campaign I posted yesterday and it’s off to the races. I’m also converting this to a daily campaign but my ISL remains in place.

2014-09-17_cocoa_update

Unfortunately our cocoa campaign found its untimely and ignominious ending today – it had good potential but you can’t win ‘em all. But you can try ;-)

Alright – a few more setups for my intrepid subs below the fold:


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That’s it for today – have fun and keep it frosty.

Cheers,

Forex Plays

Judging by the participation in the comment section you guys aren’t amused by today’s tape and I can’t really blame you. So let’s mosey over to the Forex side as it’s looking a lot more tantalizing.

2014-08-27_DX_update

The Dollar is taking it on the chin today and the DX is now back at the 100-hour SMA. That’s actually rather healthy as I prefer it see take a breather and shake out some weak hands as opposed to snapping higher and painting a blow off top. Let’s see what happens here – a close today below the daily NLSL could lead to more downside – however, I would watch the 100-hour, if it holds this may be contained. Next support zone is near 82.13.

2014-08-27_EURUSD_setup

I’m short the EUR/USD right now just before its daily NLBL. That is an excellent entry until it clears that 100-hour SMA. Not averse to flipping if being stopped out. It’s been an extended sell off for this pair and if it manages to finally clear a daily NLBL we could see a little jump higher shedding some of the fat.

2014-08-27_AUDUSD_setup

AUD/USD – very nice formation here and also consider that juicy Bollinger compression on the daily. I want to be long above that NLBL with a stop below today’s lows.

2014-08-27_AUDJPY_setup

Finally AUD/JPY – this is an hourly play on a breach above the current NLBL. If it does then we could see an extended squeeze here, which would not be out of the norm for a currency pair. Many top callers here and although I’m only going to drop 1/2R into this it may pay off well if it catches some traction.

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,




    Zero Indicator


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