Discretionary Trading
Now Reading
Summer Season Trapping
48

Summer Season Trapping

by The MoleJuly 7, 2016

Not sure what exactly is cooking this morning but I’m seeing setups crawling out of the woodwork. Time to hone our trapping skills! I’ve taken the liberty to post an instructional video that should get you going. I’m not sure how twerking and dub stepping fits into the hunting procedure but being a city boy I gladly yield to the experts.

2016-07-07_gold_update

Before we get to the goodies here’s a quick update on gold, which has been on fire since our well timed entry on June 30th. Now we seem to be painting a little shake out but if you place your trail below 1355 you should be okay for now. A bit of profit taking after a push upward like this is perfectly normal.

2016-07-07_NQ_entry

I love the NQ this morning, and what’s not to love? We’ve got a pinched Bollinger on the hourly panel, everything is pointing upward, we are pushing against daily resistance. Meanwhile we’ve got bearish news galore on ZeroHedge, your wife is flirting with the mailman, your car got scratched, your teenage daughter is pregnant, and a swarm of locust is feasting itself in your storage closet as I’m writing this. So we go long here of course with a stop below 4380.

2016-07-07_NQ_LT

Here’s the long term view which should explain my irrational exuberance. Either this thing dies in the craddle once more and we drop like a rock or we finally escape the shackles of this annoying sideways churn zone from hell.

In case you wonder: Yes, this also makes for a great short setup. BUT we need to see price paint a bit of weakness first. PLUS it would have to happen today during the session. I’m not grabbing short positions Friday afternoon ahead of the weekend, that’s for sure.

2016-07-07_spoos

Of course you can also play the spoos instead – looking equally attractive but there are no inflection points on the daily panel. That makes it easier now but does not give us a downside support zone on the way up.

More setups below the fold. If you’re still a leech then you only have yourself to blame. But there is hope, even for stingy bastards like you. So point your browser here to escape the torment of retail rat purgatory once and for all 

evil_separator

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.

Now go and have fun but keep it frosty. Anyone who sends me a twerking video of him/herself gets a free week of the Zero. No nudity please 


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
PayPal: https://paypal.me/evilspeculator