Now Reading
FOMC Day Blues
24

FOMC Day Blues

FOMC Day Blues

by The MoleMarch 20, 2013

Seems like you guys are suffering from a bit of FOMC day blues. Well, we can’t have any of that here at Evil Speculator and I’m going to tell you that there are actually wonderful setups to be had today, if you bother looking!

Absolutely fantabulous formation on the NQ futures right now – I see some sort of inverted H&S on the hourly panel and the neckline roughly lines up with a daily NLBL which, if breached should be good for a jump higher. Watch this puppy as it could kick into gear at a moment’s notice. Of course until we breach that NLBL we are good here with a short position. BUT only take out a handful of contracts as it’s FOMC day and if you find yourself on the wrong side of the tape you can’t rely on getting a decent stop out. Be prepared for the worst and if it happens you live another day.

Gold – the shiny stuff just touched my 100-hour SMA and it’s also retesting that 25-day SMA, which is still drooping lower. I think this is a decent spot to be long with small exposure. Best to pyramid up as that 25-day SMA starts swinging higher – let’s give it time and don’t bet the farm on this on. Yes, I’m talking to you, goldbugs!

The Dollar is a bit spasmodic right now but it has managed to hold that NLSL – thus far. I think the 100-hour will be the final arbiter and I’m watching it closely.

A few more goodies below – let’s get busy:

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and 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.

Please login or subscribe here to see the remainder of this post.

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