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Tit For Tat Friday Wrap Up
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Tit For Tat Friday Wrap Up

by The MoleMay 13, 2011

It’s been a range bound week in which the bulls and the grizzlies exchanged equal blows. Tuesday was a bullish trend day, Wednesday a bearish trend day, Thursday again went to the bulls, and today’s session yet again was clearly bearish. So we finish this week with a tie and although the spoos closed below our NLSL it was only by two ticks and thus I remain a bit skeptical.

Without a doubt a bearish trend day and thus increased volatility on a daily basis. Whatever happens next – it’ll be big.

Geronimo scalped a short trade at today’s highs and I call that a picture perfect entry with some room to spare on the target side. After that it apparently decided to call it a week. And who could blame it – after killing OBL two weeks ago it’s been nothing but kicking ass and taking numbers. It must be exhausted! 😉

But the fun did not stop there. The blue exhaustion signal on the EUR/USD part of ZeroFX was absolutely spot on. As you can see there was a prior signal and something I am learning is that the neighboring blue spikes (i.e. preceding and following) should be of much smaller magnitude to add to its immediacy. Yes, a scalp on the first one would have banked you coin – but you obviously would want to be out a lot faster. Let’s keep an eye on that rule moving forward to be sure we’re not making it up as we go – forward testing is all that matters.

Again, ZeroFX is still available for free – if you’re interested go here to sign up for two free weeks, which most likely you will be able to extend throughout the beta testing period.

You guys asked for a blond and who am I to deny such a humble request? Alright, it’s been a fabulous week and we all worked hard – great participation here lately. Enjoy your well deserved weekend folks!

Cheers,

Mole


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://profiles.google.com/acabrera768 andres cabrera

    Zerofx has been spot on lately.

  • volar

    Mole does great work.

  • http://profiles.google.com/acabrera768 andres cabrera

    Yea this site is a oasis compared to the abysmal blogger sites out there.  I've been trading for a relatively short period of time, little past a year, I've become better over the months. But this just tops it off. Thanks Mole.

  • http://thebhbgroup.com TheBHBgroup

    The ZERO was so spot on this week for my ES trading that I must thank you Mole for allowing the public the opportunity to trade an algo of such impressive quality. 

     Thanks to you Mate!

  • volar

    wow  how many touts have to ask for QE3….

    Sheesh should have got into the CHIPS business LOL

    http://www.ny.frb.org/aboutthe

    The Clearing House Interbank Payments System (CHIPS) is a bank-owned, privately operated electronic payments system.CHIPS is both a customer and a competitor of the Federal Reserve’s Fedwire service.The average daily value of CHIPS transactions is about $1.2 trillion a day.

  • http://practicalt.blogspot.com/ Gold_Gerb

    This weeks SLV was 9 cents lower close, than last week.
    So i'm considering this as an inside candle to previous week.
    http://stockcharts.com/h-sc/ui

  • http://investorshub.advfn.com/boards/board.aspx?board_id=12013 UPB

    I've been following this blog since it started.  When the markets hit their lows in 2009 he promptly called the bottom and said the dow will be over 10,000 which at the time seemed far fetched to many.  look where we are now.  amazing

  • Joe_Jones

    Should check out SPX weekly candle

  • DarthTrader

    One rule of thuMb about such Doji candles is they often represent the half way point of a move . . .

    Just sayin . . .

  • http://profiles.google.com/acabrera768 andres cabrera

    half way point to 60 or 20?

  • DarthTrader

    I see an ABC down to 22.94 but we need to break the 5/6 low with higher volume which we've broken but not with volume  so it reversed up

  • DarthTrader

    From Friday

    Based on our application of WD Gann's Master Time Factor analysis, TODAY
    (May 12, 2011) is the exact 60-year anniversary of the top in commodities established in 1951. 

    60-Year Anniversary of Commodity Top is TODAY: Taking All Sell Signals   
    http://cts.vresp.com/c/?GannGl…  

    If our decline mirrors the 60-year cycle, we are right at the turning
    point of what will be a 1 ½ year bear market in overall commodities!

  • convictscott

    Candle tails are important for inside candles. Pull up a long term chart, spend an hour marking down “near enough is good enough” and “exactly right” inside candles, marking the trades as win,lose, draw. 

    Some patterns near enough is close enough. Not inside candles, You see pretty quickly that there is no edge without the actual lower high and higher low.

  • raised_by_wolves

    Gold had a real inside candle.

  • convictscott

    And a bullish non-confirmation with silver which IMO should be erased. But its still there

  • convictscott

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