Now Reading
Come To Daddy!
56

Come To Daddy!

Come To Daddy!

by The MoleNovember 6, 2014

Bad news across the board coming out of Europe and the big news of the day is that Draghi is officially stepping into the shoes of the old Bernank. Meaning he’s got this and no bankster crony shall be left behind. Hey, far be it from me to complain – we’re all smiles at our Mediterranean lair. The Euro has dropped below 1.24 and the ATM around the corner has become my new best friend. Gotta get it while the getting is good.

2014-11-06_EURUSD_LT

Now that said – the EUR may be far from finding support. Frankly I don’t see anything stopping the slide at this point and I caution you against looking for a floor right now. The next best support on the monthly is near 1.2 where we’ve got the 100-month Bollinger. That’s right – come to daddy!!!

Obviously if that happens it’ll transpire over weeks, perhaps months. Also remember that a bounce can happen here at any time since the whole story is heavily politicized. But technically speaking don’t be a hero and try to step under a falling sword right now. Currencies have a tendency to trend far beyond your limited imagination. There are easier victims out there – always – just be patient.

2014-11-06_zero

Nothing much to add to the situation over in equities. My longs are doing fine and you know what needs to happen next – either we shoot higher here or we’ll heading into a medium term correction. Right now they’re just screwing around. Not a good time to be a member of the weak hand club right now as this is exactly the type of honeypot setup that fakes you out three ways until Sunday. Check out the signal on the Zero indicator. No. Participation. Whatsoever. Typical honeypot tape.

2014-11-06_crude_setup

Crude is in an pretty juicy spot right now – short term we have an opportunity to be short until it goes out of fashion around 78.6. I recommend a an entry here below the hourly NLBL at 78.34 – plus minus a few ticks. IF stopped out I will most definitely drop back in with a long position with the expectation of a jump higher toward the 25-day SMA which also coincides with the upper Bollinger on the hourly right now.

That’s all I got for today – see you guys tomorrow!

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,

Sign up here to receive my FREE early morning briefing:

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator