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End Of Month Session
17

End Of Month Session

by The MoleSeptember 28, 2012

It’s the final session of the month and instead of preparing for October I have been busy putting out technical fires all over the place today. My apologies but as the old saying goes – when it rains it pours. Nevertheless the show must go on and I managed to collect quite a few charts. But first some house cleaning chores:

Corn – touched support this morning and gave us a picture perfect entry. Although we still have a few handles to go until our first target I strongly recommend you guys take profits. Don’t you wish it was always this easy?

USD/CHF – you may remember the ID entry last week and it’s time to take profits as we are near the SMA. This took long enough and I hope you let ‘er ride.

Crude – hourly and daily support held perfectly. There is little anticipated upside until (or as long we are unable) to breach that daily NLBL.

The spoos seem to have acquired a mental block regarding the 100-hour SMA. After a little shake out we are now back at an hourly NLBL. That’s the first resistance cluster and the 100-hour is the next one. Nothing bullish happens unless we push above 1440.

Yes, there a setups – of course. You didn’t really think a burning lair would keep the Mole at bay? Emergency days are when you get to show what you’re made of!
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Soybeans is my only commodities play today but it’s looking tasty. Unfortunately we missed that daily SMA touch (if you got long anyway you are a lucky bastard) and I think the next best entry here is the 100-hour SMA. Well, I’m taking it with a stop below.

On to currencies – USD/CAD is retesting its 25-day SMA and there’s also a bit of a diagonal it ought to be holding. I think that’s a good long with a stop below the SMA. Unfortunately the SMA is dropping – so stay disciplined (look it up).

EUR/USD – also near its 25-day SMA – seems to be the theme today. Some hourly support I like and I think a long here is warranted. Perhaps the best play is to wait until Sunday night on this one – perhaps it’ll come down a little.

EUR/JPY – still clinging to (you guessed it) the 25-day SMA. The hourly is what we should be looking at IMNSHO. Unfortunately the 100-h is dropping but the 25-h is rising, so let’s go by that.

CAD/JPY – the good news on the daily is that support seems to be there. I would use the hourly for an entry as we already breached the 100-hour.

AUD/USD – last kiss goodbye to the 100-hour and then it dropped. We are below the daily NLBL and if you managed to get a short there then I envy you (I was too busy bitching at tech support). I think we are pretty safe here by trading the 100-hour down with a stop above.

AUD/JPY – attempting to breach hourly resistance as well as tboth SMAs. It’s above the 100-day but needs to get above the 25-day for anything bullish to transpire. So this makes a great short right here until we get above 81.25.

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As we’re at the EOM I’ll cover our LT charts this Sunday. Until then enjoy your weekend!

Cheers,


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.
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  • ronebadger

    Thanks Mole, have a good weekend!

  • http://evilspeculator.com molecool

    You too mate 🙂

  • Rightside_ot_trade

    Yep taking half today on usd/chf
    stop under hourly 100ma on aud/jpy long

  • AMCabrera
  • Curiousmind3861

    AUD seems quite weak today, just made a lower low…

  • AmazingLarry

    Can someone educate a noob when NLBL’s expire? I see the NLBL for gold monthly is $1727 which was the high in March. Is that correct? How long is it good for? Until another 3 consecutive green candles on the tape itself or the close on those three candles? Thx.

  • http://evilspeculator.com molecool

    Sunday I’ll do a LT update.

  • AmazingLarry

    Mucho excellente. 

  • Joe_Jones

    Thanks. Looking forward to that.

  • Joe_Jones

    Also could you also look at the LT perspective for Silver? Is it the same as Gold?

  • rothstein

    anyone remember what post or month that election year chart is in?

  • Joe_Jones

    yep that volume hole at ES1443 is key. 
    http://evilspeculator.com/wp-content/uploads/2012/09/2012-09-25_spoos_volprof.png
    Next stop 1390?

  • http://evilspeculator.com molecool
  • http://evilspeculator.com molecool

    Even the dip in May/June has been spot on. Amazing…

  • gman1980

    Wondering if anybody can tell me the exact settings on the charts used for these setups (i.e the bollinger band settings) and on what time frames. Much appreciated for any advice offered. cheers

  • http://evilspeculator.com molecool

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    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
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  • rothstein

    thanks!!