Discretionary Trading
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Setups!
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Setups!

by The MoleJanuary 21, 2016

We’ve got a nice selection of setups this morning but let’s catch up with equities first. There was follow through overnight but as emotions are running high and bear avatars are in short supply we’re now descending lower once more. Very productive actually as we just may be building an intermediate base here.

2016-01-21_spoos_resistance

The short term panel is now suggesting resistance near ES 1890 which just so happens to line up perfectly with a brand spanking new NLBL on the daily. So if we drop a bit lower today and the Zero is favoring a drive higher then that would be my target range. However if we run today then 1890ish is where I would start looking for a possible reversal. We’ll revisit that subject if it comes to that.

2016-01-21_AUDNZD

Okay, I promised setups. AUD/NZD – here I’m waiting for a dip lower to grab some long exposure.

2016-01-21_AUDCAD

AUD/CAD – long already with a stop near the lower 100-hour Bollinger. UPDATE: My stop at 0.5R was just touched here. I’m still fiddling with the campaign logic on my Discretionary strategy. Advancing to 0.5R is supposed to happen a little later actually so I’ll dig into this later tonight.

2016-01-21_EURUSD

EUR/USD – that was quite a wipe out – thank you Mr. Draghi!! However I am actually looking for long exposure here as well but will need to see a drop below 1.08.

More setups waiting below the fold…

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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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