How It’s Done!

Alright, I think it’s time for some tough loving’ as I’m getting a bit annoyed by some of the wining I see in the comment section. I have been a gentler kinder Mole as of late and as a result it seems some of my steel rats are getting a bit soft. It may be fun to hang around here and exchange funny pics or jokes but not at the cost of missing out on several U.S. AAA prime rib setups I kept pushing here. And not just once – this is a curious trend I have been noticing as of late. I post valuable setups and receive little to no comments even if they resolve nicely in the plus a few days later. What gives? Seems at least some of you are not with the program (yet), so let’s revisit some of my July 2nd setups and show you field mice how it’s done!

July 2nd: A quick update on a previous setup – CAD/JPY pushed right into its daily NLBL and bounced back. If you took this one last Friday then there’s nothing for you to do right now. And yes, a close above the Net-Line (and a stop out) would be a long signal. Only problem is that the 100-day SMA is pretty nearby, so don’t overstay your welcome.

July 5th: We did push above that NLBL and that’s obviously a long signal. You should be a few pips in the plus with a stop below that NLBL.

July 2nd: EUR/JPY – same idea and I hope you took the setup last Friday. Nothing to do unless we get thrown off the horse above 101.22.

Obviously we took that entry on June 29th and July 2nd was simply a retest. Which failed. Which means you are nicely in the plus at this point. Given of course, you did take the setup.

July 2nd: USD/CHF may be painting a last kiss goodbye – in which case it’s a great short setup. Of course if we close above that NLSL then the previous signal has been invalidated and it’s permissible to try a long position (but keep it small – we are not sure if that correction is done).

July 5th: Our ‘last kiss goodbye’ failed and it turned into a long trade as we breached the NLSL. Again, you should be nicely in the plus now taking profits near target.

July 2nd: USD/CAD – similar story as that NLSL is being retested. Same idea here and if we close back above I would actually be pretty excited about a long trade here. Until then I remain short.

July 5th: Well, we never closed above that NLBL and although we may see another retest there’s nothing for you to do until your original stop gets touched. Again, assuming you took this entry.

July 2nd: NZD/USD – thus far it looks like it’s breaching both the daily NLBL and its 100-day SMA. Long with a stop right below the NLBL.

July 5th: Since our long entry not too much has happened but we have more information now in the form of a NLSL which thus far has been holding up. Again, nothing to do here and this may resolve one way or the other on Monday (don’t expect too much activity tomorrow).

July 2nd: AUD/USD – a little conflicted here. We triggered the NLBL and then we bounced back at the 100-day SMA. If you are long then I would hold with a stop below that NLBL. If you are not in a trade yet it’s permissible to be short with a stop above that SMA. A breach of that would signal continuation higher.

July 5th: Turns out that the original NLBL signal has prevailed thus far. If you went short near the 100-day SMA then you lost but a few pips and should be stopped out (or long) – obviously we have not gone far.