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I’m Your Huckleberry
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I’m Your Huckleberry

I’m Your Huckleberry

by The MoleJuly 21, 2015

I’m sensing a possible inflection point across various market verticals this morning. Now if you ask me what I mean by ‘sensing’ and if I have completely lost my mind then I would respond with ‘divergences and assorted correlated price action’ to the former and ‘affirmative’ to the latter. Let’s just say that I’ll be bull’s huckleberry up here – but only until 2124.25 – my boldness comes with price limits.

2015-07-21_spoos_briefing

All jokes aside – I’m a bit pressed for time this morning so let me walk you through my nefarious plan. Basically equities seem to be slowing down and are clearly diverging. The YM for instance is already pointing down while the NQ is still holding strong. This could of course mean nothing but the 25-hour BB is looking like a python at this point and is seamed by Net-Lines on the up and down side. All that represents a reasonable inflection point I plan to exploit:

  • I’m already short 1/2R with a stop above 2124.25.
  • If we drop below  2115 I’ll be adding 1/2R to my exposure.
  • If stopped out I’ll be long with a stop below the lower 25-hr BB to ride the final phase of the ongoing squeeze.

That’s very little risk with potentially high rewards. Just the way I like it.

2015-07-21_AUDCAD_briefing

AUD/CAD is also looking good and I think it’s a great short (didn’t mark that on my chart) and that’s my current position. UNTIL of course we push above that diagonal – which is when I plan to be long.

More goodies below the fold.

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Promising price action today and other setups may be developing – so get busy and let me know how you fare.

Cheers,

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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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