Discretionary Trading
Now Reading
On The Road Again
141

On The Road Again

by The MoleNovember 2, 2018

Equities are finally heading higher and it seems that our Halloween lottery ticket may actually pay off. Of course as always there was method to my madness in that I first needed to see some supporting evidence of a medium term low being in place. As yesterday’s IVTS post clearly shows us: shooting from the hip when it comes to picking long entries on the way down is a losing and frustrating endeavor, especially during turbulent market conditions.

Whether or not this thing actually has legs remains to be seen, but for now it appears that buying interest is on the mend and may be in the process of starting a short squeeze. Which is what the UVOL:DVOL ratio suggested on Wednesday.

I’m now advancing my trail to the 0.3R mark which gets me a wee bit > break/even but hopefully gives it enough room for some Friday afternoon scare the children stop out raids.

Alright ladies and leeches, I have another binary entry for you guys and once again we are pitting gold against the Yen. Here’s my long entry on the GC futures near 1234 with a stop < 1226. The daily chart looks bullish as heck but going long gold still gives me the jeebies.

Another chart that looks like it’s ready to pop back higher is the USD/JPY which of course should run inverse to gold as the Yen tracks the shiny stuff. So I’m long here with a stop < 95.76 because if that spike low goes then it’s back to the woodshed.

One more special goodie below the fold for my intrepid subs:

evil_separator

It's not too late - learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.

Well, it’s Friday and you know where to find me (but don’t tell my wife).


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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c