Time To Strike
I think I’m going to have to see a chiropractor given all the whipsaw in equities over the past few weeks. But out of chaos often spring new opportunities which to most of course only become obvious in retrospect. Meanwhile a temporary spike in the Dollar has led to quite a bit of movement across our ongoing campaigns, so let’s work our way backward today:
If you were a sub last week (yes, I’ll keep rubbing it in) then I hope you caught the perfect long entry on the DX futures, which yesterday advanced to almost 5R in profits.
I’m now trailing at 4R hoping for massive short squeeze higher over the rest of this week. Realistically however we’ll most likely going to see a retest of the 100-day SMA near 90.2.
Almost a perfect entry on the USD/JPY as well just ahead of shifting into trending mode. It didn’t even look back once and I’m also trailing at 4R here now.
Once again however the 100-day SMA beckons from above and will no doubt except a bit of resistance.
My E-Mini campaign to stopped out at the 2R mark last week and that’s fine as I was expecting pushback once again near the 100-day SMA.
By the way don’t ask me why that one always works so well, I don’t see anyone else using it.
Silver is about to roll over and that’s where I would be taking profits had I not been stopped out at the 3R mark last week.
I am actually considering a re-entry in the July contract after it’s done doing its thing. Once I do I’ll make sure to post it for you subs first and then rub it in with all you leeches (too soon?)
And finally Bitcoin has treated us well over the past week and it’s time to advance our trail to the 2R mark. Once again the medium term SMA (guess which one) is right above us and I would expect that the easy ride is over which is why I’m tightening up a bit.
Okay, now per the title of this post I just went long the E-Mini futures as I very much like this very bearish looking formation on the daily panel.
If that triggered an acute bout of cognitive dissonance then I can’t blame you but fading my inner instincts is an approach that has generally served me well over the years.
Basically the bulls are now officially in trouble having been unable to overcome the 100-day SMA (yes, that one again – don’t ask me why) last week.
Continuation lower here may unleash forces which may propel us beyond the bearish event horizon, so the onus is on the bulls now to stop fucking around and get the tape back into gear.
Quite frankly speaking a short campaign at this stage probably has similar odds weren’t it for the fact that the bears continue to fumble near important inflection points every single time. It’s like betting on Rudy to finally nail a home run (to my non-european readers – look up Daniel ‘Rudy’ Ruettiger).
More goodies below the fold for my intrepid subs:
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