I Smell Bear Meat
I Smell Bear Meat
I’m going to wrap this week up with a smug smile and of course some tasty setups. Mrs. Evil just threw some bear steaks on the big grill and they smell delicious, so grab some BBQ sauce and let’s dip right in:
Just imagine you would have been caught massively delta negative this morning. Of course if you are a sub then you weren’t as I suggested some long term support right below here yesterday – both on the weekly and monthly side. And of course you recall the P&F inflection zone which once more was saved by our intrepid starship troopers.
Moving forward we’ve got a bit of a volume challenge here until about 1360. So it’s possible we just got everyone’s beak wet and will have to sit through a bit of a post spike churn here on Monday.
I promised setups and the Mole delivers – as usual. Please step into my lair:
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More charts and cynical 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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Sugar – inside day + NR4 – you know what to do.
Copper – right at its NLBL. Great short with a tiny stop above 3.505. If we actually snap back I would be out quickly as I think this NLBL will be retested, so keep that in mind and don’t overstay your welcome.
Cotton – you may remember that ID entry and it’s been treating water ever since. Until today – we seem to be finally getting out of the gate here. Watch for a breach of 72.4.
Crude – that’s what I’m talking about: Nice NLBL touch and I’m short as well with a tiny stop above 87.13. Hoping to get stopped out so that I can flip it into a long as this wold be my favorite setup.
EUR/JPY – inside day + NR4 – you know what to do. If not then please check the cheat sheet 😉
Ditto on EUR/AUD. I hope the EUR continues to die for selfish reasons but will of course take either direction here.
CAD/JPY – right at NLBL – same story as the setups above. Use the NLBL to manage your stop. On a breach don’t hesitate to flip this sucker.
AUD/USD – right at its 100-day SMA – which thus far has been proven to be impenetrable. This is what I’ll do – short here with a reasonable stop a bit higher. If stopped out then I’ll dip into a small long position which will have to push above that NLBL (which then will be expired, but no matter). Once it does then I’ll add positions by using Bernie’s Pyramid Calculator – you can find that in the menu bar in case you haven’t tried it.
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Enjoy your weekend! 😉
Cheers,