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Setups Galore!
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Setups Galore!

by The MoleNovember 12, 2014

Roll up your sleeves and get to work folks, for there are literally setups crawling out of the woodwork this morning. Either that or I got some kind of Spanish infestation. Unfortunately I have precious little time as I’ve got one foot out of the door – so I’ll have to post them telegram style.

2014-11-12_NQ_briefing

Okay this one is experimental as we are probably seeing a more thorough correction. But I’ve got 1/2R long on NQĀ – stop below the 100-hour SMA.

2014-11-12_EURUSD_briefing

EUR/USD – long – stop below the 100-hour.

2014-11-12_gold_briefing

Gold – long above the NLBL (or now if you want) – either way stop below the 100-hour as well.

A lot more below the fold – please join me in the lair:

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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

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 various social media waterholes below.
  • http://evilspeculator.com molecool

    Get cracking people!!!

  • BigMoney

    USD/TRY not on FX Risk Calculator…or is the fog in my eyes this morning?

  • Skynard

    Nice setups today:)

  • wandering196

    I agree- liking them

  • Skynard

    Hum, check out the signal today:)

  • dkind42

    EURCAD stopped @ 1.408.

  • wandering196

    Put mine in a little lower

  • Skynard

    AUD and NZD moving nicely, see what wholesale inventories does.

  • Skynard

    Back to long /QG 4.16

  • Skynard

    Attempting to short at gap fill. Carefull with Bucky, could see a re-test here. 87.4 seemed to hold up.

  • Skynard

    Short /6A now.

  • http://evilspeculator.com molecool

    It’s not a major one – but I can add it when I have some time.

  • Skynard

    Long on the 5 min div.

  • BattleZone

    You guys ever talk about hidden divergences? The 5-min Zero is showing a bullish example.

  • Skynard

    Gap filled, shorting next spike

  • BattleZone

    Another try uploading that Zero pic.

  • Ronebadger

    you got it

  • Skynard

    -2 /NQ @ 4190

  • Skynard

    Looking for a decent correction before the Xmas rally:)

  • http://evilspeculator.com molecool

    Wow it’s dead here – everyone snoozing excellent entries again… :-(

  • Skynard

    Another div 5 min, no new high yet. Out of AUD

  • Billabong

    two weeks to TG … then black Fri, Sat, Sun Mon. Followed by singles day Mon – Fri every week. First week of Dec, Christmas items pulled and Valentine’s Day gifts on display, yada, yada, yada….

  • Billabong

    Waiting on longer signals….

  • Skynard

    Lol, yep. Hate it:) It is to commercialized for a hillbilly like me.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://www.ProfitFromPatterns.com/ Ivan K

    BZ … ‘Hidden divergences’ on Zero are essentially the same as the ‘Internal Divergences’ in the RSI that I have discussed and written about over the years … they can be extremely meaningful and insightful … and can be easily combined with any of my setups.

    Divergences in oscillators seem to be a very gray area for many … from my studies and use of the RSI, there are 3 types of divergences that can be used … as well as another concept that is rather neat for a quick play in a market.

  • Skynard

    Looks like distribution at it’s finest:)

  • SS_JJ

    Nice Mole Signal

  • BattleZone

    Hey cool… was re-thinking the term “hidden divergences” and thought maybe “internal divergences” was more accurate! I’d like to read the writings you mention… are they on Evil Speculator or elsewhere?

  • http://evilspeculator.com molecool

    Someone showed up for work!

  • strider

    I took the 3 FX trades

  • http://evilspeculator.com molecool

    Strider always on the case.

  • Skynard

    Empty bus

  • SS_JJ

    Just observing Mole. Those swings are brutal on the equities if you trade intraday. I am on the PM trade though.

  • SS_JJ

    of bears definitively. Not calling a top though. It would be nice to see a bull trap of some sort, like a shooting star or a doji on the daily.

    I don’t discount the possibility of touch of the resistance line above (TMilf’s magaphone) in the short term.

    http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p48463850974&a=375673731

  • http://evilspeculator.com molecool

    Second Mole signal was nice as well.

  • Scott Phillips

    Have you seen the bid ask spreads on this kind of junk?

    Unless you are trading monthly charts the spread will kill you on this

  • strider

    IB doesn’t have USDTRY or it would have been 4. Crazy Ivan only giving .1R trades this am anyway.

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

    That’s good. After a period of superperformance you really want to stand down for a bit

  • James Spence

    I have yet to trade any Forex pair and I am reluctant as hell. When I get a quote in IB the default contract size is 150000. With futures that is the number of contacts and it is 1 by default. I guess it means notional value of 150k.

    Questions: If you have a setup in USD/EUR, isn’t that the same as just taking a Euro contract from a dollar perspective? If the setup is in the GBP/EUR is that the equivalent of a GBP EUR spread?

  • BobbyLow

    Google is your friend. All you have to do is type in Forex and you should be able to find many things that will help you learn some of the necessary basics for beginners.

    Trading Futures and Trading Forex Pairs are two different things. I strongly suggest that you learn the basic language of Forex before even thinking about trading within it. I use TOS and am not familiar with IB but their minimum contract size in Forex is probably 5K to 10K. Some Brokers have minimums as low as 1K.

    No easy way to put this but I believe that you have a lot of reading to do before you go live with this stuff or you are probably going to have a lot of problems.

  • phylum

    What Bobby said

    Here’s a link for you http://www.babypips.com/school

  • James Spence

    Yup, I will not get near those waters with my understanding. One of the positives is that the technical analysis of futures seems to transfer nicely.

    One thing that I have heard repeated a few times is that there is less manipulation. Now that cannot be correct in my thinking because these pairs are really derivatives and if the underling future is manipulated then the FX, by extension, is too, right?

  • Scott Phillips

    IB works in notional value. Go to interactivebrokers.com and do ALL of their tutorials.

  • Scott Phillips

    As a beginner don’t even THINK about manipulation.

    It’s a rabbit hole that brings out the worst in beginner traders. “They are out to get me” “They ran my stops” “They make it hard for the little guy”

    The little guy has a tremendous advantage in FX that he does not have in any other market. Accurate position sizing, very tight spreads, ability to trade in very small size.

    I suggest position sizing of 20000 is acceptable for starting to trade FX on EURUSD. If you use a 15 pip stop you will be risking $50-$100 every trade

  • phylum

    Exactly, it’s not manipulation, it’s called the “Economic Calendar”

  • phylum

    Classic analogy ….. “Trading without a stop is like driving down the highway without any brakes”

  • phylum

    Someone asked about divergence…….

    Edit: All you need to do now is put it into perspective.

  • Quinn Bolon

    there a target to exit the NQ long or just going to be moving up the stop? ty vm

  • http://greenlander1.blogspot.com/ greenlander1

    Nice setups today. Im sitting long QQQ as it’s been consolidating for a week. GLD looks like its basing to fry the shorts in what appears to be a very crowded trade now.

  • http://greenlander1.blogspot.com/ greenlander1

    Also wondering if the USD longs are piling in the boat a bit too much….and whether that might cause a spike up in GLD

  • http://www.ProfitFromPatterns.com/ Ivan K

    Close … yet no cigar good sir !

    EDIT: The reality is attached to the true internalisation / understanding … of the term ‘divergence’ …

  • http://evilspeculator.com molecool

    I have been looking at silver but I don’t trust it just yet. In precious metals we regularly see a period of ‘bad cop’ (Ivan’s term) after an extended trend. Both gold and silver have a knack for driving everyone crazy and then taking off.

  • http://evilspeculator.com molecool

    I’m trailing it via spike lows.

  • http://evilspeculator.com molecool

    Careful with trading on correlation – they work until you start relying on them.

  • http://greenlander1.blogspot.com/ greenlander1

    Yes I couldn’t agree more with the ‘driving everyone crazy’ part!

  • http://greenlander1.blogspot.com/ greenlander1

    Agreed…