Time To Start Paying Attention
I’m sensing an increasing amount of mental exhaustion right here in the comment section. I can’t really blame you as it’s perfectly natural to start feeling frustrated after several weeks of sideways volatile market conditions across all four verticals (i.e. equities, bonds, forex, futures). However – I think I have done a pretty good job of keeping you guys out of trouble, plus things are slowly coming into sync here. I can’t promise that we’re at the cusp of a new (and hopefully more directional) market phase – but judging from the roster of setups waiting in the bullpen below I think it’s time to start paying attention again. So let’s get to it!
Boy did I have it wrong on the E-Mini this morning – my prognosis was that we’d hit the ground running after around 2115 but as soon as it happened the tape turned on a dime. I did however anticipate the possibility of a last kiss goodbye move to the downside, so if you catch the Es near its 100-hour SMA then a small long entry has pretty decent odds. If 2103 fails then we may be dealing with a false break out and that means we’re back in hell for another week or two.
Copper campaign update – great entry this morning and she’s looking hot! Moving my stop to break/even now.
NZD/USD – even better entry and my evil plan seems to be unfolding as planned. Also moving my stop to break/even here.
USD/CHF – now that was interesting! That blue line signifies the daily NLBL at 0.9493. I grabbed a long position right after that touch and my ISL remains below 0.9493. Still early in the game however and we could see another drop lower.
We got a ton of juicy looking setups today – here’s the EUR/USD which (much to my chagrin) appears to be bent on pushing higher. I am waiting to grab a long near 1.086 with a stop below 1.0818.
AUD/CAD – long here with a stop below 0.9475. Definitely like that formation on the daily.
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