Freaky Forex Fun

Frankly the tape across the board is giving me a headache and judging by the participation in the comment section you’re either on vacation (and thus not reading this) or are sharing my general sentiment. My gold long was just taken to the woodshed and I don’t see much else on the futures front that captures my fancy.

However some of the Euro pairs are looking interesting this morning and I’m playing a few freaky forex candidates with 1/2R position sizes.

2015-06-24_EURJPY_briefing

EUR/JPY – quite a bit of support there on the daily and I’m grabbing a late long position with a stop below 138.455. Wish I would have seen this one last night to be honest but the recent retest lower makes this a respectable entry.

2015-06-24_EURGBP_briefing

EUR/GBP – one of my favorites today – long here with a stop below 0.708. If we drop through it I won’t flip for a short position – that was my initial thought but in retrospect there is too much momo support on the daily.


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I hope I don’t need to point out that you should split your exposure between the EUR pairs you are grabbing. Correlation can really slap you in the face and if the start going against us they’ll do it in unison.

Cheers,

 

Wait For VWAP!

A few of the hardcore rats and yours evil truly watched the Zero like a hawk this morning and thus managed to squeeze in a few longs near 2076. I take it most of you guys weren’t that adventurous (and most aren’t Zero subs) so here’s your next best chance to grab some long exposure:

2015-06-09_zero

Alright, here’s the script on how to play this: First you most definitely wait for a VWAP retest. Don’t chase it and wait until you see the white in their eyes. Most likely they’ll have some fun with it and attempt to scare the children a little with dip below VWAP. If you see price recover there or kind of hang around until near the end of the session, then a handful of long exposure may be good medicine.

BTW, this entry is by no means guaranteed. The bulls will have to run hard here in order to avoid a slip off the proverbial plate. We’ve seen an accumulation of quite a bit of technical damage over the past few months. That said – IF there will be a bounce then the odds here are as good as they’ll be for a long while.

2015-06-09_EURJPY_update

EUR/JPY update – I grabbed some adventurous longs near the 100-hour SMA yesterday and so far it’s looking very productive. Today we got a retest of my original entry but it seems to be holding.

2015-06-09_gold_setup

Gold – awesome awesome long term entry here today and I can’t believe I’m giving this one away. I’m long right now with a stop at 1174. Below that I’ll be short as I consider that its current Maginot line.

Two more juicy ones below the fold – subs only:


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It’s now 2:44pm Eastern and it doesn’t seem like you guys are going to get your VWAP test before the close. Which is why I post a morning update! Make sure you catch it next time! Hope to see you in the morning ;-)

UPDATE 4:30pm Eastern: Looks like I was dead wrong about not getting the VWAP test. May actually die in its cradle right here. Well, let’s see what the close brings….

Cheers,

Monday Morning Briefing

I’m back from my weekend get-away and much to my shame I was looking forward to getting back to the lair most of the time I was gone. What the hell is wrong with me? Well, we’ve got very interesting tape unfolding this morning which means we’re going to hit the ground running. But first let’s get up to speed on what’s happening on the equities side:

2015-06-08_spoos_briefing

After a rather eventless looking Friday (good timing on taking the day off) we seem to be slowly descending lower. Damn you Skynard! ;-)

Anyway, we are looking at soft support here between the weekly NLSL and the 100-day SMA near 2080. I know that’s a 20 handle window but I can’t offer anything that’s not on my chart.

2015-06-08_YM_briefing

The YM is looking a bit more productive actually. It’s already trading below its 100-day SMA and the next weekly NLSL is at 17690 (typo on chart). Which means I wouldn’t think about long positions before we descend into that range.

2015-06-08_soybeans_briefing

Soybeans is looking like it wants to continue higher plus volatility is expected to jump here soon. I’m long with a stop below 937.

2015-06-08_AUDCAD_briefing

AUD/CAD – long here as well with a stop below 0.9460. I would prefer to be below the spike low but that’s a bit too far away, so I’m taking a little chance here.

2015-06-08_CADCHF_briefing

CAD/CHF – short here with a stop above 0.758. Again I would have preferred to be above the spike high but it’s a bit distant right now.

I have some very nice goodies for you subs – please meet 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.

In completely unrelated news: The German women team beat Ivory Coast 10:0. What are they feeding those gals?

2015-06-08_1422

 

In one of the pics you actually see one of them floating in the air. My money is on advanced genetic engineering… YOU GO… uuuuhhhh…. gals? ;-)

Cheers,




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    1. The Quiet Before The Storm
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