Gyrations Galore

Alright, I’m short time (and patience) and long setups today – thus let’s dispense with any clever opinons on the FOMC announcements today and instead delve into our charts:

Although she was running like a hare today the spoos have finally settled above the NLBL. Next hurdle ahead: the 100-day SMA, which if conquered should start acting like support if I have anything to say about it. Unfortunately I don’t. Honorable mention of the day – the Mole signals – boy, the have been golden today. Seems like they like emotional whipsaw days and shun high probability trend days – definitely a worthwhile observation.

Ole bucky meanwhile has dropped below its 100-hour SMA but is still clinging above that daily NLSL. I’m watching this one intently and I propose you do too.

The Nursery:

Copper is certainly moving in the right direction. We did get a really clean entry there – wish it was always that easy. I would move my stop down a bit and wait for a touch of our target area near 3.4125.

Crude gave us two technical entries and appears to be out of the danger zone. Let’s not get comfortable though and set our stop below that NLBL – I still want to see that upper 25-day BB cleared and it’s off to the races.

On to the good stuff – please step into my lair:
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Sugar – well, it’s being a bit difficult here. Not sure if you guys took the previous entry or got whipsawed out. But it’s good to see another inside day + NR4 combo which may lead us out of this sideways zone. Yes, if you are in a trade use this setup to validate or disqualify your position.

USD/CHF looking a bit like ole bucky – below the 100-hour SMA and battling its NLBL. Same idea here in terms of a tradeable setup.

NZD/USD – not imminent and we’ll probably mention it in the future. But I see a possible break out here at the 100-day SMA. So watch for that – even better set yourself an alert if your trading platform allows for that. Of course until it breaches it’s a good short with a cheap stop nearby.

EUR/CAD appears to be in the process of forming a floor – it has not even come close to a NLBL lately. I would watch out for a breach here. Not terribly interested in a short continuation right now.

Ditto on the EUR/USD – similar idea and setup.

CAD/JPY – inside day + NR4 combo. I know this does not look like a the most delicious setup we’ve ever seen. But we may be coiling up here for a big move especially if we brach that NLBL just above the ID trigger point.

That ought to keep you guys busy for a while 😉

Cheers,