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I Love The Smell Of Profits In The Evening
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I Love The Smell Of Profits In The Evening

by MoleOctober 17, 2012

So I was feeling on top of the world this morning – happy to be back and all – when somewhere around 3:00pm it suddenly hit me and I literally couldn’t keep my eyes open. I took a little nap but am degrading quickly over here, so let’s make this a snappy one as we have much to catch up on. I hate it when I lose a day crossing time zones but that doesn’t mean my account was losing – quite on the contrary:

If you were dropping by last Thursday then you may recall the possibility of an impending bear trap. The tape smelled like snake oil and various measures on my end suggested that the bears may be heading into a short squeeze. Turns out I was right (again – ahem) and it’s been pretty brutal since. Yes, I was one day early but how many other trading blogs/sites do you know which were pointing up late last week?

Oh yes, and I was traveling – thus I had very limited time to look at my charts. Feel free to send me tokens of your worship – alternatively you may click on the subscribe now link. And yes, if you wonder – the self indulgent humor comes at no charge 😉

The Nursery

Soybeans – great entries last week and it’s heading in the right direction. Do nothing but feel free to move your trailing stop a bit lower if that’s what you use.

Bonds – remember that I was hoping for a long break out but mentioned that I had to be short until we saw a breach of the Net-Line? Well, I’m certainly glad I didn’t jump the gun as my shorts are smoking right now (no, I didn’t eat any chili). We just got confirmation and I am planning on holding until roughly 145’11.

Coffee – some of you may have forgotten about this trade but it’s alive and kicking. First test now at the NLBL – you can move your stop lower here as it’s slowing down.

Currencies – ole’ bucky is asking for more punishment and I am seriously considering charging you guys in Euros as my exchange rate is flushing down the tubes. Fortunately I put up a good hedge last week right at the first sign of resistance. I somehow had an inkling that ole’ bucky didn’t have much mojo. I hope you guys went along for the ride, otherwise – why am I posting this stuff all the time?

The comment section has been pretty quiet as of late and wonder how many excuses you guys can think up to pass up on such kick ass trades as this one: Cable – such a nice entry near the lower BB – yes, I admit that I mentioned that it was speculative but I suggested a small position which could be built up. If you didn’t grab this one (or any of the other ones on this page) then you only have yourself to blame… you snooze you lose (or at least don’t win).

EUR/JPY – ready to take profits here as I’m seeing resistance. Frankly this one ran higher than I anticipated and I had probably gotten out earlier had I been around yesterday. I guess it’s better to be lucky then to be good 😉

EUR/CAD – must I say more? Two entries on the bottom – I was all over this one. Is anyone opening a bottle of Cristal courtesy of this one tonight? I frilling hope so.

AUD/USD – entry 1 and entry 2 – and off to the races. Don’t do anything as you got a wonderful setup here (I certainly hope you did). If not then Dr. Mole prescribes 10 minutes of self-flagellation. Use the iron spikes please.

AUD/JPY – one of our favorites – and yes similar entries at the bottom last week. The writing was on the wall so to day, wasn’t it? I would hold this sucker although it’s permissible to take partial profits after a candle like this:

Two new setups – nothing much on the setup side of things today. There are times to strikes and times to sit – today’s session is of the latter kind:
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More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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EUR/AUD at hourly support and leaning against daily resistance. Now that’s an interesting one! I suggest to follow the hourly here as it’ll decide whether or not we see a daily NLBL breach or failure here.

And yes – gold again. Not sure if you guys are excited about this trade but I am very much so. Same game plan as last week – follow the 100-hr SMA and you should be good to go. If you are noob – this means to go long on a breach and stay short if we remain below today. Stops are obviously on the opposite side of the SMA.

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By the way – I do have a little surprise in store for you guys – but you’ll have to wait a few more hours. Alight, I hope to catch up on some sleep tonight. Hopefully the melatonin I smuggled in (yes, illegal in Europe) and some good ole’ American pharmacy treats will do the trick 😉

Cheers,


About The Author
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 various social media waterholes below.

  • https://evilspeculator.com molecool

    Hey guys – please use that retweet button on the very top – or this link:

    http://tinyurl.com/cc9kszz

  • Skynard

    Nice set up Mole, caught a few of them.

    We have another bear flag 5 min.

  • Tronacate

    Gold still hovering around the 100hr sma…..

  • https://evilspeculator.com molecool

    Well, at least somebody is not allergic to profit taking!

  • https://evilspeculator.com molecool

    Yes, it’s so well behaved.

  • Tronacate

    Bear flag on what???

  • Tronacate

    Nice little squeeze starting in beans

  • Tronacate

    Now that was a 5min bull flag on ES…….impulse pullback then up again…..see if it carries through with the trend day

  • Skynard

    See the last leg up on the 5 min ZL? Identical flag now.

  • http://dartht.blogspot.com/ Darth_Gerb

    trend day?!
    now you tell me.
    😉

  • Joe_Jones

    Help an algo, buy AAPL 

  • https://evilspeculator.com molecool

    Alright – I’m open to suggestions here. In the past three or four months the comment section has gone very quiet. Are you guys still trading? How about those setups I’m posting – what’s going on?

  • AMCabrera

    Still trading?! The comments are hitting over 100.

  • Joe_Jones

    setups are great! Could we get AUDUSD or CANUSD in zerofx?

    Me thinks comments will increase once we get a rocket move

  • https://evilspeculator.com molecool

    I dunno – I have been posting nice setups consistently so there is no reason why many are absent. You regulars have been great – FWIW 🙂

  • https://evilspeculator.com molecool

    50 of which are from you. No, I’m not complaining – but a lot of old timers have washed out it seems. No idea why as the setups have been consistent. Please tell me if I’m subjective – I’m always open to improvements.

  • AMCabrera

    I like this place what can I say. When setups are great what is there to say? If this place sucked like the house of ill repute then it would be ablaze with opinions.

  • AmazingLarry

    The coal train has left the ANR station. Full steam ahead. Not exactly a light load b/c the volume is hot. But what do I know, I just work here. 😉

    Long SVU at 1.88 to fill the gap.

    Anyone catch /CT?

  • bdoone

    I think the equities markets have ground many to a pulp these past few months (or put them to sleep), not just here at ES but everywhere… Of course FX & commods are a different story.

  • BobbyLow

    I don’t know boss.  I’ve been around here for approximately 3 years and the amount of comments related to trading seem to be about the same to me.  I guess some people like to post more than others and perhaps that’s a “normal” thing.  

    I’ll go back to what I’ve said before and that is the Quality of the Comments on ES remain superb and IMHO that is much more important than the Quantity.  🙂

  • AmazingLarry

    Dude, I freekin love this place. I’ve said it before and I’ll say it again, it has literally saved my account. My mind is clear, my nerves are chill and I just go about my business. 

    But to be honest, I’m hesitant to say anything about it because I love the small, consistent group and would hate to attract riff-raff which I assume makes you job harder? I dunno, you’re in charge ultimately.

    Also, where’s the donate button? I’m still just a blood sucker at this point but have no problem throwing a few quid your way for the excellent work you do.

  • ronebadger

    I’m watching all day.  Got some small trades going either way on SPX.  Not trading currencies or agriculturals…maybe a little PMs or oil on big swings…so, I don’t comment much, but appreciate everyone’s posts…even if they don’t apply to what I’m doing.

  • ronebadger

    Donate …. LMAO!

  • https://evilspeculator.com molecool

    Yeah, which is why I keep wondering why those guys didn’t take my setups. I mean there are here for the taking… why frell around?

  • https://evilspeculator.com molecool

    Well, you can always buy one month of Gold – it’s non-recurrent.

  • https://evilspeculator.com molecool

    I get this AMC but I am running a business here – ahem 😉

    This place will get more promotion going forward – what we have to do is to keep the energy the same and the idiots to a minimum.

  • Joe_Jones

    Well, according to Alexa dot com the traffic to evilspeculator has increased significantly over the last 3 months. Sounds like somebody needs a hug from Mrs. Evil 😉

  • AMCabrera

    more promotion? Specially?

  • AMCabrera

    hey btw guys aud/jpy 81.90 is critical.

  • AmazingLarry

    Why is that funny? Not everyone can afford to sub, get real. Also, Mole could just shut the comment section down, put out freebies, etc but what I see is a lot of trading outside the setups that takes place here. What he does can be very thankless at times, trust me as I run my own forum and business in much the same way.

  • Tronacate

    I’ve been taking setups with the recent input of fearless and volar kept in mind……looking for major points of agreement

  • Joe_Jones

    If you cannot afford the sub, you should not be trading in the first place

  • Tronacate

    I think several people just like to trade for the thrill of the trade…..trying to pick tops and bottoms and turns, etc.   Setups are too boring perhaps……but I’ll take coin over excitement.

  • AMCabrera

    Paradox. 😉

  • https://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • https://evilspeculator.com molecool

    Word.

  • https://evilspeculator.com molecool

    Keep it nice – most everyone starts small. Although I agree that a sub is worthwhile the price we can’t demonize folks who decide to leech along for a while. Eventually they may turn into paying subs – or else!! 😉

  • ghostlines

    Yes, trading the setups.

  • mrmik3

    that’s better than a bunch of posts and trades that aren’t working out like everywhere else on the net!.. At least here peeps are on the ball and consistently post winning trades and help each other out understanding setups!