Now Reading
Setups Setups!!

Setups Setups!!

by The MoleOctober 7, 2013

Frankly speaking I’m getting really tired of the latest drama coming out of Washington and the resulting slow motion churn we’ve had to endure on the equities side. I’ll give you the skinny of where we are but would very much like to focus on some rather juicy setups I’ve dug up on the futures and Forex side. And not a minute too late I may add as I see you guys dropping like flies out of sheer boredom – so let’s get cracking.

Alright – I think the SPX is still out best guide (plus the chart I posted this morning). Still painting lower lows and lower highs – that’s the story and not much else to be said about this except…

… the ES volume hole which was almost touched again this morning – we basically reversed  a handle and a half above it. We’ve been testing this one three times now in a week and thus far it’s been holding. Again, that’s the futures – the cash is flowing a bit differently obviously and it remains my main guide as the futures are a lot more emotional.

Quick update on copper from this morning. I did point out that playing the swings would be fun and a few minutes later copper dropped back to that support line giving us an excellent entry for a ride up. Almost made it up to the upper diagonal – well, it’s no exact science but if you hitched a ride then it was easy money. FYI – wait for a solid touch before trying another ride on this puppy.

Alright, let’s run through the setups quickly as Mrs. Evil is waiting with dinner. EUR/USD is painting an RTV-S but given the NLSL below I would be more comfortable taking the IP-L setup tomorrow. Yes, a NLSL would be a good short but given the current gyrations I think that the bulls have the home team advantage and may try to squeeze the top pickers a bit more.

Quite a bit more below for the subs – please step into my lair:


It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and 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.


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