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Ambivalence Galore
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Ambivalence Galore

by The MoleMarch 24, 2014

I think it was a bit over a week ago when I suggested that we may be heading into difficult territory and unfortunately I seemed to have been right about that. The gyrations of the past week have produced more ambivalence and thus far a winner has not emerged just yet. We are still at an inflection point that gives both the bulls and the bears an equal opportunity to turn the ship into their respective territory. As of right now we are still in limbo with the bears currently enjoying a slight advantage.

As you may recall equities produced a shooting star formation last Friday and it was triggered earlier today. If you played the spoos then this is your campaign – 1R equals 21.75 handles, which is 86 ticks. Your 1R point is still ways away at 1833.75.

Which is why I played the TF (as did my subs I hope) and I already managed to add that other 1/2R I was talking about. I basically earned it and my new stop is now at my trigger point, thus already bringing me to break even. Which is excellent as I have very little confidence about the direction just yet. Admittedly we are now back at the lower range of the limbo territory.

There is one chart however that is a must see on the equities side as something very significant happened today – I’ve posted it below the fold for my subs. Not to be missed and if you’re on the fence about subscribing then this may be a good time 😉

If you can rely on one thing in this market then it’s that ole’ bucky is getting its butt kicked near important resistance zones. I suggested a short at 80.5 last week and I barely got triggered by a few ticks. I have earned 1/2R on this one and will keep the other half running with a new stop at 80.2.

Bummer about the CAD/JPY this morning – didn’t trigger long before faking a short. FX is pretty nervous lately and it’s affecting equities a great deal. A few setups below the fold for my intrepid subs:

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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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  • ridingwaves

    Closed that Tesla short today…what a month…..time to relax…starting dipping into ELTP at .38….

  • Billabong

    Nice trade … hammering out support at the 50?

  • Billabong

    Mole,
    Thanks for responding yesterday…

  • Billabong

    GC looking for support at 1300 – no hammer or inside day yet – CCI becoming extended and volatility at the higher range. COMEX calendar change out on 27 Mar.

  • CorporalCarrot

    Mole some questions on CrazyIvan if you don’t mind, I’ve been looking for something like this for Forex for quite some time.

    The question is driven by the quote on the CI Page

    “It is imperative that you pick one instrument and trade it, the correlations between markets increase risk dramatically. How I would personally pick an instrument is by looking for volatility”

    Since you previously showed the combined results of all symbols produced by the CI system, is this advice no longer appropriate and do you recommend trying to take every alert that you manage to catch/execute?

    I would be concerned that in trying to “pick” an instrument I would just end up screwing with the results and end up with results far worse than shown. Or in trying to chop and change, Id invariably pick the worse performer.

    Or is it intended to suggest, for example, that if the system generated competing orders in USD/JPY and AUD/JPY that one would only pick one of those trades since both are JPY plays in some way, but if it generated a EUR/USD and AUD/JPY at the same time theres no problem taking both of those?

    By the way, congrats on the content for the last few weeks. Top Notch. Some of us are coining it but just not in a position to post (…….the nanny didn’t work out 🙂 )

  • https://evilspeculator.com molecool

    Scott and I disagree on this point to be frank. I do run all symbols but he is right that it increases correlation risk, especially during big events (FOMC announcements, ECB announcements on the FX side). Alternatively (and that would be my suggestion) you can play all symbols but simply reduce your R size to 1/2 or 1/3. For instance EURUSD got whipsawed today and others not – had you picked only that one you may have kicked yourself. Thanks for bringing this up – I should probably edit the CI page.

  • https://evilspeculator.com molecool

    You got it.

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

    When dealing with a number of different markets (the same as dealing with various RBT’s … refer to my comments and charts in the previous post … Updated CrazyIvan Results) … many clues and messages are contained in the Equity and Distribution graphs as well as the stats of each market … in this fashion you are in a position to make an informed decision on which road ahead to take.

  • Skynard

    Patial profit /CC and /LE today.

  • Skynard

    /ZW, seeing reason to be short now. Potential for a retest possibly in the cards.

  • Skynard

    Good place to short the bitch, hanging on for the ride:)

  • Kudos

    Double inside day breakout on copper?

  • Kudos

    Guess its a triple inside day, hasn’t brooke the high of the largest and first of the candles yet

  • https://evilspeculator.com molecool

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