Pay Attention Now!

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Equities at shot term inflection points across the board – so pay attention! Here’s the YM which has been pinned below the 25-hour since Friday morning. Several bounce attempts have failed but the bears have been unable to push it lower (and abandon the 100-day SMA I have been posting about). As I’m typing this it’s attempting a breach and I think it’ll lure in more bids above 15,045ish.

NQ – completely sideways since Thursday but it’s getting comfortable down here near the 3080 mark and 3060 (our inflection point to the downside) has not been touched since Friday. I am trying a long here with a stop below the 25-hour SMA.

The spoos looking a bit like the YM and obviously the weakest of the triplet. I think I’ll wait for 1655ish before dipping into a long position – unless I see an hourly candle pattern I can’t refuse.

Speaking about candle patterns – here’s a screengrab of the CrazyIvan.AUDJPY.360 which enjoyed a nice ride down in the past day. That’s the kind of stuff we’d like to see! If you haven’t yet then sign up for the CrazyIvan beta trial right now – it’s FREE!


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Cheers,

This entry was posted on Tuesday, August 20th, 2013 at 8:13 am. Both comments and pings are currently closed.

  • http://evilspeculator.com molecool

    TOS forex spreads:

  • Schwerepunkt

    Euro threatening to breakout of a 6-month trading range.

  • neowave

    >1,5 R
    Nice

  • neowave

    Market at 1.34095 – raise current stop loss from Sell at 1.33735 to Sell at 1.33715.

    1.33715 is a small mistake I assume?

  • Skynard

    Nice little skakeout AUD, back to orig price level already.

  • Skynard

    ST /ES support 46.

  • convictscott

    Interactive brokers right now

  • convictscott

    great trade crazy.ivan.trending 30

  • http://evilspeculator.com molecool

    It was in response to some guy complaining in the previous thread. WTF are you still doing up?

  • http://evilspeculator.com molecool

    Setting the pip sizes in TOS (for question asked in previous thread):

    You can change the increment up and down arrows by clicking on the Setup button in the upper right corner, then go to Order Defaults and for forex you should be able to switch it from full pips to tenths of pips (or you could just type in the number out to tenths on the order ticket)

  • convictscott

    Couldn’t sleep – I smell volatility in the air and I like it. Been a fascinating day in the currency markets

  • Skynard

    Damn, bout time for that hourly div to play.

  • saltwaterdog

    +ve div, correct? Also look at 4hr, very nice div there as well supporting the hourly view. I’m long

  • Skynard

    Lol, still long from yesterday. Added on the pullback.

  • Skynard

    There goes the hourly just now, burn baby:)

  • saltwaterdog

    Wary of divergence failures as well… somewhat surprised we haven’t had a better bid already. We could be transitioning from the market that ignored negative div seemingly forever to one that runs over +ve div very soon

  • Skynard

    That div failed last week, think she runs now. Usually takes a few days.

  • captainboom

    Mole, given that ToS now has an overnight data gap in the Zero, how long into the trading session does that gap affect the 5 min Zero? i.e. Is the 5 min Zero Lite signal line okay to use once it shows up on the chart?

  • http://evilspeculator.com molecool

    I need to find a way to cut out the futures session overlap. Have not found a way to do it – writing TOS support now.

  • Skynard

    Do not know why, but it happens every day now for some reason. Never did that befor, just on occasions.

  • Skynard

    VWAP test in process.

  • captainboom

    I understand you want to find a permanent solution. I’m just wondering if there’s a period of time where we must exercise caution when using the ZL. I’m not trading right now, as my summer has been too busy with work and family.

  • SS_JJ

    Reloaded position in Goldcorp this morning.

  • AMCabrera

    I smell the same thing too.

  • http://dartht.blogspot.com/ Darth_Gerb

    not bad. if you get stuck, it pays better than SBUX. ;-)

  • Dyellowflash

    strange things happening at zl.. what would drive so many longs to entry now?

  • SS_JJ

    When I factor in the broker fees It was not really worth the trouble of selling Friday and buying today. Oh well, at least I did not lose any coin.

  • SS_JJ

    I can’t explain it myself but I would not fight it and go along with it.

  • ridingwaves

    well if that SI sell off didn’t reverse this morning in london or wherever it would worked out better..

    PAAS has better yield..

  • http://evilspeculator.com molecool

    FLAT tape by far – when the signal goes flat anything can happen. The more signal strength the better and more reliable. The only thing that works better in flat tape are the Mole reversal signals (blue arrows).

  • http://evilspeculator.com molecool

    I know – those fucks changed something again and I don’t know what it is.

  • http://evilspeculator.com molecool

    Exactly – I think the writing was on the wall this morning – per my post.

  • Skynard

    Go with the flow as they say, very bullish looking tape now:) Taking partial profit 57

  • Dyellowflash

    Shorted 15055. Will be epic fail if retracement failed today. risk is worth the fun ;)

  • BobbyLow

    FYI, “The Banksters” are meeting at Jackson Hole this Thursday. This might or might not generate some extra noise. But in either event, with the Mob being all together in one place it might be a good idea to hold on to your wallets. :)

  • Skynard

    That would be perfect, fill that gap Thurs and then short the piss out of it:) Thanks for the warning!

  • http://dartht.blogspot.com/ Darth_Gerb

    and I thought I was the only one dealing with comissions.

  • ridingwaves

    Children too..those evil phucks are diabolical

    A Society that is in its higher circles and middle levels widely believed to be a network of smart rackets does not produce men with an inner moral sense; a society that is merely expedient does not produce men of conscience. A society that narrows the meaning of “success” to the big money and in its terms condemns failure as the chief vice, raising money to the plane of absolute value, will produce the sharp operator and the shady deal. Blessed are the cynical, for only they have what it takes to succeed.”

    — The Power Elite by C. Wright Mills

  • SS_JJ

    true

  • http://dartht.blogspot.com/ Darth_Gerb
  • Skynard

    Going to attemp a short entry now at resistance, should get a div on the 5 min shortly.

  • neowave

    Question about CI 360

    I live in europe. Is it fair to say that you best trade the EURUSD.360 in stead of the AUDJPY.360 if you want to sleep through at 5 o clock in the morning…

    cause 11 before lunch and 5 in the afternoon and even 11 in the evening are very do-able. But what do you do with the morning session?

    In one of the previous updates on crazy ivan evil wrote:

    “CrazyIvan.360 – that’s the six hour version which only quiets down
    during sideways low volatility periods. Expect around 50 trades per
    month. This is great for someone who can attend to his/her charts five
    minutes four times each day. Yes, there is the overnight issue – not
    sure how to exactly address that but Scott tells me that sleeping
    through the night rollover will not greatly affect the end result. I
    await more detailed statistics from him – it’s about time he made
    himself useful. Same symbols as the 30.”

    Is this detailed statistics already available?

    Cheers

  • http://evilspeculator.com molecool

    We are actually looking into the 480 session right now. For U.S. residents that would mean three roll overs at 7:00am 3:00pm and 11:00pm. More to come on that.

    Of course we Europeans are always SOL ;-)

  • http://evilspeculator.com molecool

    In London that would be 13:00, 20:00, and 4:00am.
    In Madrid it’s 14:00, 21:00, and 5:00am.

    So it sucks for us but 90% of my clients live in the States.

  • http://dartht.blogspot.com/ Darth_Gerb

    but seriously? I think it was an important horizontal support level.
    yeah, that’s it

    http://s2.postimg.org/xvnc1ufbt/no_moon.png

    -DG

  • Skynard

    Damn, Mole signal beat me to it, to soon. Next spike at resistance will get it. Lunch is almost over, bulls will attempt a new high:)

  • Dyellowflash

    oh well… after being swing around, i am also out of my shorts at breakeven now. i made the mistake of not reversing when the zl shows that thing it shows.

  • Dyellowflash

    oh well, i turned out to be profitable after tallying the coins. looks like i survived going against mole and zero with my balls intact for once :):)

  • Skynard

    Damn, missed my reverse entry by half a tick. See if we get another attempt.

  • Dyellowflash

    i had 2 trackers at 15063 now with stops at high of day, the majority of my shorts at 73, i had cleared away already as after all, the zl is clearly above the 0 all session. No point holding them even if i win bcos it would have been an operational victory and strategic failure.

  • bdoone

    SPX will probably spend the lunch hours banging it head on the 50d (1657.73) before making a move either way.

  • http://dartht.blogspot.com/ Darth_Gerb

    “for once”
    Never say never eh?

  • amokta

    Looks like Skynard was slightly early, but right :-)
    (unlike Prechter who is very early and wrong)

  • Skynard

    Triggered, short 56.5, could not have done this without the ZL. Great signal today. Shall see:)

  • http://evilspeculator.com molecool

    You guys should not think reversal when the Zero has been pointing up all day.

  • http://evilspeculator.com molecool

    Granted – there is a developing divergence but when things are trending like this it’s difficult to call a top.

  • ridingwaves

    I’m calling a top

    http://thechive.files.wordpress.com/2012/09/skin-tight-dresses-17.jpg

    scalping some shorts, smells of distribution

  • Skynard

    Figured we just has a massive move down with a rally to resistance. The signal today was hard to resist:) If the bulls can not make this new high it would seem bearish.

  • http://dartht.blogspot.com/ Darth_Gerb

    some how, I think you could. ;-)

    http://s16.postimg.org/q06ewygtx/skynet.png

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨

    ¨°º¤ S H A K E N ¤º°¨

    ¸„ø¤º° B A K E !“°º¤ø„¸

    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„

  • http://evilspeculator.com molecool

    Damn! She’s going to poke somebody’s eye out with those things…

  • neowave

    do you think you will make something for europeans, so we don’t have to wake up at 5 o clock?
    give a brother a break :-)




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