Spot On

You guys have to give me a tiny bit of credit today – after slaving away 20 hours plus last weekend and barely being awake I somehow managed to pick the lows of the day in the morning. Alright, technically I was off by 1/2 handle – I hope you accept my apologies then:

It’s all in the wrist folks – and a bit of dark magic of course. The bad news however is that the bulls may not be out of the woodworks here just yet. A rather aggressive bounce this morning but that may be just EOM painting – recall that tomorrow is September’s last trading session. Oy vey – I can already here the Christmas commercials – the horror! Yes, that’s right – you’re getting old.

I would not wager making any conclusive call down here – we’ve held some reasonable support and if you bought there then by all means hold your positions for now. But unless we close positive or almost positive today this may lead lower on Wednesday.

The chart of the day for me is the Zero – excellent Mole signals and if I wasn’t so damn tired I’d put up a video. But I’m pretty sure most of you guys would prefer me finishing Thor, right? Which after a Sunday snag has since progressed very nicely and I should be able to put up an early alpha sometime tomorrow. Cross your fingers.

UPDATE 4:30pm EDT – see above the updated chart.

Our USD/TRY campaign is nearing its end as I banked 50% profits at the 4R mark – if it wasn’t trending so massively I would have closed it out altogether. But I’ve had an excellent month and that permits me a bit of discretion. However when I say discretion it means putting a stop below the 3R mark – so I’m not exactly playing dare devil. This was an awesome campaign and sadly I don’t think that many of you guys tagged along – at least judging by what I’m seeing in the comment section.

Since it’s the EOM I’m planning to do a long term update tomorrow – I think given where we are waiting another session is probably wise. On the Forex side the USD and the EUR are heading into respective inflection points – I wanted to post the EUR/USD early as it’s going on ‘bounce watch’ now. The weekly and monthly will put up some support here and odds are that the easy ride is over the Euro bears. It’s been a fun quarter for this expat as I’ve seen the EUR/USD go from almost 1.4 to nearly 1.27. That’s 13 cents I’m saving per Euro spent – quite significant and I’m able to afford an extra slice of bacon per week.

Two more setups below for my intrepid subs – please join me in the lair:

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That’s it for today – see you guys tomorrow!

Cheers,