Setups For Stainless Steel Rats

Hey, say that ten times in a row. Talking about setups – coffee is quickly turning into one of our big trades of the year:

Frankly, it doesn’t get much cleaner than that. Entry right after a floor had been painted – breach of the NLBL and since then it’s been nothing but one nasty short squeeze. I don’t see one red candle in there – amazing. We took initial profits at T1 and kept a few lottery tickets for a push into T2. The rest, as they say, is history.

Some stainless steel rat is smiling all the way to the bank 😉

Okay, time to earn my keep around here:
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I really like the action in crude but would wait for a retest of the 25-day SMA for a long trade into 96.

Gold is now a classic low probability high yield trade. I am not crazy about tape like this as we keep bumping against that NLSL which may just give way for a push into 1900. But that’s not the trade we want – the one we may want to throw a few lottery tickets at is a bet that 1824 is going to hold and that we’ll drop to overcome the 25-day SMA near 1750. If that happens expect a long squeeze which probably leads us to 1600. As I said – low odds of that one – BUT we are at minimum risk level here and placing a stop just a handle higher (which should closed above not just touched) is a trade we can’t say no to. Sometimes homey just has to play the instinct card – if it fails you lose a handle – not a big deal.

Copper – my favorite setup for today as we have an hourly support level at the NLSL which was successfully defended. Set your stop just below that, then hold your nose and go long. We want to see a breach of the 100-day SMA – if that happens expect lift off. Again, an easily defended trade with potentially big gains.

Enjoy and keep it frosty!