Busy Thursday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

I’m seeing more reasons for measured amounts of paranoia on the equities side. Here’s the GBP/JPY (popular carry trade pair) plotted against the spoos. The former is descending while equities continue to hold strong.

I’m considering short positions but need a reason. Don’t have one yet on the spoos – if you’re long here then simply watch the 25-hour SMA and I think you oughta be okay. Slight BB compression by the way – we may be seeing a quick move here soon.

I’m already short on the TF but it’s experimental with only 1/2R and a tight stop above that NLBL. If it snaps back I’ll be long above the NLBL with a stop below the SMA.

But we’re only getting warmed up – plenty of juicy short term setups this morning, especially on the Forex side. Here’s the USD/JPY which is resembling equities. I would be long above the NLBL and short once it drops below 103.8 (with stop above the NLBL).

More below the fold for my intrepid subs:


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Cheers,

You Surely Must Be Joking!

I’m seeing some poor souls pouring their hearts out in the comment section and I think it’s once again time for a generous helping of Mole’s favorite tough love medley. Let me set the stage: Here we have Scott slumming it with you lowly retail rats for an entire week, giving you all the opportunity to get your hands on a veritable brain dump of wisdom and valuable experience. And may I point out it was all for the all time low price of absolutely FREE?

And a mere week later what are my tortured eyes forced to see upon returning from spending a few hours at the gym? Idle talk about the news and how unfair the market is as equities are pushing higher in tandem with the greenback. You must be kidding me, right? I won’t mention any names to protect the ├╝ber-guilty but you know who you are and guess what – you’ve got have homework to do: Go back to this post, do not collect $200, and work yourself forward in what was presented until you have completely internalized all of Scott’s information. This ought to keep you busy until next Monday. Yes, I know – how dare he, that silly Mole, yadayada… But I have an inkling you will thank me later (I also have a feeling I won’t be winning any popularity contests anytime soon but that comes with the territory).

Alright, on to the charts – we are back from whence we came, this didn’t take long, did it? No breach of yesterday’s highs just yet but if we close inside then we are obviously going to paint an inside day candle. I kind of like the configuration here – could swing either way (which is the point I guess) and whatever move comes next may be big.

Same setup on the NQ, which I actually like a bit better – triggers on the chart.

However my favorite on the equities side (and more) I keep for my intrepid subs – please join me in the lair:


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Cheers,

Thursday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Nice converging SMAs on both the TF and NQ this morning. Based on the recent closing candle we have an IP-L and an RTV-S within a relatively small range, so feel free to buffer your ISL by a few ticks.

Same setup on the NQ – again the triggers are on the chart. Both setups are good until 10:00am EDT, possibly until 11:00am EDT if we don’t get a breach either side. If you are unfamiliar with the rules please check the cheat sheet.

We’ve got solid setups on the futures and FX front this morning – my favorite one actually is on the Dollar. Please join me in the lair:


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Cheers,





    Zero Indicator
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