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Out In The Green
106

Out In The Green

by The MoleSeptember 28, 2018

Boy am I glad this week is almost over. It’s been a rather rough one but somehow we managed to make it through it accounts intact and in the green. That is assuming of course you were stuck to the script and didn’t get sucked into bad trades by perma-bear snake oil salesmen (or women). If not then this may be a good time to sign up for either a basic Gold subscription or even better – our E-Mini based Zero indicator, which includes access to all Gold content.

Clearly the Dollar has been the big catalyst of the week and our long campaign is now pushing into 3R MFE territory. I’ve advanced my trail to 2R and hope to ride this one all the way into the weekend and beyond.

Not surprisingly the USD/JPY has benefitted as well but I am keeping my trail at break/even at this point as I have big plans for this one. The current break out pattern will mostly be retested so I decided to adjust my campaign management accordingly.

I forgot to mention the EUR/USD yesterday for some reason and of course it produced a stop out for me – fortunately at break/even, so not much lost. Seeing the EUR drop back below 1.16 represents a MAJOR failure of the inverse H&S pattern.

It’s not all lost just yet as these patterns often paint false break outs. However given the economic dynamics at hand I don’t see how Draghi is going to start tightening any time soon. But of course I am not privy to what goes on over at the ECB. For now I’m counting my blessings and will take full advantage at the ATM.

Crude also nicely in the green but it’s starting to slow down and my trail remains at about 1.6R. The current break-out pattern is expected to produce a bit of volatility here and I expect my stop to get touched today or by Monday. If that happens then I’ll be looking forward for a re-entry once I see a credible correction in place of course.

The ZB futures are most definitely pointing in the right direction now and I actually hope you got a better entry than me yesterday. Nevertheless the odds are now shifting from what I considered a Hail Mary lottery ticket to about 50/50 that this one resolves higher.

Well folks – it’s officially Octoberfest season and you know where to find me 😉

Prost!


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.
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