Let’s Not Overthink This

Yes, in case you are wondering, we are seeing clear signs of distribution or accumulation. Which one exactly it is – well, we can’t be sure and my crystal ball is still in the shop. However that said, I don’t see anything disturbing on the momo front – at least not yet. So as usual I’ll have to go with price:


Since we took this snapshot we’ve dipped down a little again and if you’re looking to grab long positions you may get a better entry near the 25-hour which currently sits near 2075.  On the short side it seems that the 100-hour should be our best guide at this point – it’s been tested and the 25-hour is also near. Anything between the 100-hour and 25 hour SMAs is limbo territory – feel free to grab positions but probably it’s best to use the extremes for inverse entries.

A drop below the 100-hour could drag us a bit lower but it doesn’t get serious until we breach the 100-day at 2057.5. I think from there the bears may have a real shot at dragging this beast lower. I’m sure all that sonds a bit confusing and frankly I can’t offer the perfect entry here either.


Or can I? Of course you may simply play the daily setup which is a hammer (thus far) – be long above it and short below it. And in between you can play the swings at your heart’s content ;-)


GBP/CAD – taken to the woodshed, water boarded, and then disposed of – another great entry bites the dust. Bummer really but it was always experimental as the trend obviously remains to the downside.


USD/JPY – here we are in much much better shape. I’m advancing my stop as indicated and am prepared to hold this sucker through a possible short squeeze. This in fact has been my approach in the past few years – get a seat early (i.e. via the hourly) in promising daily formations. This in fact is how I got into the NQ early as well.

A few setups below the fold for my ever intrepid subs:

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



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What Me Worry?

I hate FOMC days – no matter if it’s the notes, an announcement, or just a speech. Usually the entire session is a waste and I rather spend my time attending overdue chores or just hitting the gym (did both today in spates). A few of my Forex campaigns have been taken to the woodshed overnight but except for two I got out at break/even.

Alfred E Newman

So I shouldn’t really worry and just let my campaigns do the talking. With that said let’s take a peek at the survivors and two of the losers – in no particular order:


GBP/CAD – I got super lucky here. I had it set to flip a few pips below 1.85 and somehow I didn’t get snagged. Looking good now and I’ve advanced my stop to the 100-hour.


ZB – what a damn dirty shame on this one. I’m pretty certain we’ll see another break out attempt here and I got stopped out at break/even by a few ticks. Well, it happens, no sense getting one’s panties in a twist over it.


Crude – what a shame! Same sentiment as on ZB actually. This one is actually coiling up for a big move and I’ll probably work my way into an entry here again soon. Stand by – I have a feeling we’ll be seeing this one soon again.


USD/JPY – didn’t break a sweat on this one – progressing nicely and I’ve moved my stop near the 100-hour.


NQ – ditto on this one. It pays to get an early entry and if we can hold into the close we should be able to leave behind that 25-day SMA. Moving my stop below the recent spike low.

And that’s all for the day – no new campaigns – let the market digest the FOMC minutes first. Tomorrow is another day.

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.


One For The Road

This will be my last post before until Thursday as I’m heading out to catch my plane to Paris and then to Los Angeles. This actually works out better than having to take the AVE to Madrid and then grabbing a flight to L.A., especially now that Iberia apparently has apparently ceased servicing the direct route. Let’s just hope those frogs won’t be on strike today – you never know, but at least it’s still out of season over here in Europe.


Suffice to say that I don’t even know what time it is anymore – over the past week I have slowly delayed my sleeping cycle and am now operating on Eastern Standard time. The idea is to pop a Xanax on the plane and hopefully not being awaken by the fat guy they’ve invariably booked right next to me. Anyway, Scott has graciously volunteered to post tomorrow, and his timing couldn’t be any better as we have plenty of movement across the board.


So let’s talk tape! On the Zero we’ve had a pretty wild day with swings on both sides of the spectrum but still favoring the short side. However I do see a bit of a divergence on the hourly (left panel) which is probably due to the fact that we had barely any positive signal spikes yesterday. You guys are probably wondering where we may find support, let’s see:


The E-Mini futures are hanging somewhere in limbo and the only context I see is the weekly NLSL at 2036.5. We haven’t touched it yet and I would like to see that before I suggesting taking partial profits.


I’m posting the weekly and monthly NQ chart here in order to give you guys a bit of perspective. I don’t really have to say it, right? Just look at this monthly panel and marvel at this beautiful trend to the upside. That’s a one in a lifetime move, folks and you’ll probably have to heavily invest in cryonics to ever see anything of the kind again. Now, we are near the monthly NLBL at 4348 here and that ought to be good for a bit of support. On the weekly we got 4286 and 4201.5 plus the 25-week SMA in case we drop lower. I think we’ll probably see an obligatory bounce first.


Update on my open positions – Gold remains lackluster and I’m closing it out with meager profits. The CAD pairs all got stopped out but at least at break/even – so I got out clean on those.


GBP/NZD is on a roll now and I’m advancing my stop to 2.0628.


GBP/CAD – almost got stopped out on that one by a tick! I’m letting this sucker run and keeping my stop at break/even for now.


CAD/JPY – stop out with tiny profits as it turned on a dime. Keep an eye on this one guys – I love the context on the daily and we are now back at the 25-day SMA plus a few Net-Lines. Perhaps you’re able to grab this one long above the SMA or short below it.


ZF – that was a very speculative entry but it’s slowly grinding higher. Stop now at 118.200 – very comfortable to keep this one running while I’m stuck at 35,000 feet.

And that’s me signing off here in Europe. You are in good hands (i.e. Scott) and our open positions are flashing green. Subs – everything is running as usual and I’m going to put up new Thor setups (if there are any) in the next hour. However if there are any unforeseen problems then you’ll have to wait around 24 hours before you’ll hear back. Alright, that’s it for now – I (hopefully) see you all state side.

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.


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