Strap On Your Helmets

I don’t know what exactly happened near 2050 but equities somehow hit an invisible about an hour ago. I sense a major disturbance in the force. Please make sure your seat belt and safety bar is securely fastened – we’re about to embark on a wild ride!

Alright, I’m trying to keep up here but things are unfolding quickly. See how we breached yesterday’s highs briefly and then suddenly fell back and that fast. There is a tiny volume hole near 2020 and as you remember it demarks the bear from our current 40 handle shake out zone. Should we actually close the session below it then things could get out of hand here quickly overnight.

Back in the box with you! By the time you read this we could however be near the 100-hour – this is highly contested tape. I’m still short the NQ via Thor and we were literally a few ticks from getting stopped out today. Crazy tape and anything may happen here and probably fast.

That was one chart that looked a bit ominous to me all through today’s advance. Keep on eye on the EURJPY correlation for early hints of either bull or bear traps – and of course the Zero. Honestly I have no idea where this ends up but as of right now I’m out of today’s ES longs and still in my NQ shorts (again via Thor).

Gold update – you may remember that I was lucky there as well – our stop was below 1207. More precisely I had it at 1206.5 as I never put my stops at an even number. Which kept me in long positions since 1212 – thus far banking me 5R – it was 7R an hour or so ago but gold fell hard since then. My trailing stop is at 1233.5 and I have an inkling it’ll get touched today.

Two juicy setups await below the fold – 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.

Cheers,