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Entry Opportunity
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Entry Opportunity

by The MoleJanuary 5, 2016

We have a brilliant long entry opportunity today and I am posting it early while I’m still hunting for other symbols. Long here now or on a little dip lower with stop below the overnight spike low at 1992.25. Odds are mixed – 50/50 at best but pretty significant upside potential if it plays out. This is the type of trade I would take every single time.

2016-01-05_AUDUSD

Long on AUD/USD on a dip lower near 0.713. Stop would be below 0.7080.

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2016-01-05_zero

Not much else going on here today on the setup front. While the Dollar is on a tear we have little entry opportunities on the Forex side. I suggest we watch and see what the remainder of the session shows us. Participation on the equities front is absolutely ridiculous (see Zero snapshot above) given that this is traditionally a very busy week on Wall Street. Also yesterday’s late session squeeze could once again be a sign of distribution. Watch your six people, meaning keep your stops loose and your position sizes small.


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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