The Squeeze Is On!

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.

Looks like the squeeze is on – equity futures have continued to rip higher overnight and the E-Mini is now facing the 25-day SMA which admittedly has only soft context based on prior interactions. We are a bit in limbo here on the ST side so I wouldn’t suggest any pertinent entries this morning.

Here’s one for the leeches though – EUR/CHF – very nice floor pattern and it’s now trying to pop over a NLBL. I’m long here with a stop below the two SMAs – pretty solid support if it decides to retest.

More below the fold for my intrepid subs…


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On all these setups I strongly encourage you use our futures and forex risk calculators – limit your exposure to 1% maximum. If you don’t understand the concept of risk, i.e. R, then I suggest you point your browser here.

Cheers,

Wednesday 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.

The USD/CHF is back at its 25-hour SMA which has been acting as support in recent days. Conveniently we also have a NLBL in place and I intend to take a long breach with a stop a few pips below the SMA.

Copper also near its 25-hour but it’s a lot less defined. Here the NLBL is in play for five more hours and as the current pattern is resembling a Retest Variation Long I’d be happy to take the failure (meaning a long breach).


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,

Only The Paranoid Mole Survives

The bounce I expected earlier this morning finally materialized but not before grazing my new stop which I had advanced to 1840.25. Bugger! I didn’t even get to take the 25% profits yesterday as I was off the 1.2R mark by a tick or two. Well, that happens – it’s just one out of 10,000 as we say.

So you may wonder about today’s theme and I’ll explain it to you via the Zero chart shown above. As you can see the current bounce higher is not accompanied by a meaningful signal (see the flatline on the Zero Lite). This usually means that participation is rather thin and that the current push higher may be a trap. You know – just because we’re paranoid doesn’t mean they are not out to get us – believe me, they very much are. So the next question in our mind should be – how can we take advantage of this?

Fortunately today’s tape is producing what I was hoping for yesterday already – an inside day candle. Which means we now have a trigger to the up and down side. It’s a decent range which should keep us from getting whipsawed tomorrow (so goes the theory – cough cough).

Here’s the same on the NQ – it was even painting a doji as I took this snapshot – if we close this way it would support the concept of indecision. Anyway, unless we paint a big move in the next two hours the triggers are as shown on the chart. Again, if you are new here then check our cheat sheet for the rules.

Another juicy inside day candle on the AUD/CAD – it also happens to be in an Retest Variation Short configuration. I would however prefer a long breach here – trading with the trend is so much more rewarding.

More setups below the fold – please grab your decoder rings:


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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