A Plethora Of Setups

I guess I just can’t help myself – a veritable plethora of virgin setups on the horizon and it’s El Guapo’s birthday. Before we get to our new victims let’s cover some hacienda cleaning items:

The VIX may just produce signal two of a bonafide VIX buy signal today (relative to equities). In order for that to happen we must close below yesterday’s close – even if it’s just a tick or two. The rules are the rules, folks – don’t kill the messenger (except with kindness).

NZD/USD – we did get our breach and I hope you managed to hop on that bandwagon. If we can clear that NLBL then it would represent confirmation. Yee-haaa!

By the way – I have no further opinion on equities right now. You know where I stand and a low will be in place when it’s in place. No sense in wrecking our brains and trying to force it, too many great setups on the horizon across the board.

Alright – we’re running out of sunlight and we have hapless setups to attend to. On our horses!
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AUD/USD – right at a daily NLBL – looking good so far. Today’s drop may be a fake out but I would prefer to see it push back above the 25-hour.

EUR/AUD, looking bearish but if you’re not in then I suggest to wait for a last kiss goodbye (LKGB) of the 25-hour we sliced through yesterday.

USD/CAD – still looking like a good short but if she holds and breaches the SMA I’m willing to flip.

USD/CHF – I’m long with a stop below today’s lows. And I sacrificed a chicken burger for lunch in its name.

Cocoda: Support has been holding on the daily – on the hourly I would like to see a breach of the 100-hour which could solidify a low here. Come to daddy!!!

Cotton – pain in the butt on the ST side today but I think we may be working on a low here on the daily. So I’m willing to consider a long position IF we remain above the now expiring NLSL. Not my favorite trade but if you cover the softs then have at it.

Copper – come to daddy!!! I want it at the SMA and how about an inside day candle after we touch? I know, I ask for too much…

Nutty gas – looking super interesting right now. That 25-day is touching the NLSL . I want the hourly to make it above the 100-hour but I may entertain a long here now. OF COURSE I would be short on a breach. But I play it very small here folks – it’s a crazy frilling contract… sheesh.

Bonds – could this be support? Let’s see if we can do the deed on the hourly side. Daily support must hold or things could get ugly. Yes, in that case I very much would want to be short – this sucker has been coiling up for a while and I’m hoping for some EOY fireworks. Maybe after the election?

Honorable mention: I’m about to sit down for dinner but wanted to share today’s screen grab of the 1-min Mole:

I can’t wait for the weekend – to have time to work on the NinjaTrader version 🙂

Cheers,