Tuesday 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.

As you know I will keep my exposure rather limited over the next two days. I did however run into three juicy piggies on the FX side this morning. Here’s the USD/CHF once more touching its 100-hour SMA. Based on recent gyrations I’d say this is a 50/50 scenario and I’ll simply go with the flow here. The lower 25-hour BB is coinciding with the 100-hour SMA – a drop below those and I’m short. Until that happens I’m long with a stop below.

EUR/CAD – I’m looking for a breach of the 100-hour here. Also interested in trading a failure but I would prefer to see it touch the SMA before getting positioned. We’re running a clean ship here after all!

The EUR/AUD is already chewing on its own 100-hour and I’m short until I see a clear breach after which I’ll flip for a long.

The future is now – so don’t bring a knife to a raygun fight. If you are interested in becoming a subscriber then don’t waste time and sign up here. A Zero subscription comes with full access to all Gold posts, so you actually get double the bang for your buck.

Cheers,

This entry was posted on Tuesday, December 11th, 2012 at 8:32 am. Both comments and pings are currently closed.



  • MrMargin

    Probably a TD and strong price action.

  • Skynard

    Wow!

  • saltwaterdog

    I’ve got a 94% reading as far as the TD goes…..

  • itslance

    You said it!

  • itslance

    Closed out longs.  Looking for a short entry…unless the freight train keeps showing signs of continuing.

  • http://dartht.blogspot.com/ Zen_Gerb

    /es 1430 Major Fib Fan line.

  • MrMargin

    My methodology is a bit different. I look at the readings over the course of the first trading hours. This way I get earlier indication of a TD and avoid false positves.

  • http://dartht.blogspot.com/ Zen_Gerb

    ditto, close out of trading longs.
    no shorts for me until post FOMC.  and I still have some T’s waiting to expire.

    http://s12.postimage.org/pd4z2z9v1/temp1.png

  • newbfxtrader

    The force is strong in this one! Need longer knives to stab now….

  • Skynard

    Are you a sub Bro?

  • newbfxtrader

    Doesnt look like the fan lines stopped anything before.

  • http://dartht.blogspot.com/ Zen_Gerb

    true.  fan line is a target for me. not a stop.
    when /ES was below 1410, it seemed impossible.
    yet here it is. :-D

  • itslance

    I’m a Gold sub, but not a Zero sub.  Thanks for reminding about INTC yesterday…I definitely owe you a beer for that one!

  • MrMargin

    The 10 billion Dollar question is now whether this is the real breakout or whether it will get faded. Price action and ZL suggest it might be the former, but that long consolidation with this pop right now looks more like the end of a move to me.

  • TWD_Proxy

    must be a trend day fellas :)

  • itslance

    How do you guys gauge when to close out positions?  Do you just use the ZL?  I know how to determine price targets, but when everything whips around in Honeypot weather, I find myself being VERY conservative, otherwise I end up giving back profit and getting stopped out.  The problem is that when Rocket weather hits, I’m still in Honeypot weather trading mode and I end up leaving massive profits on the table.  Any advice?

  • Pervergence

    LKGB on gold??…..interesting price action in light of bucky

  • Schwerepunkt

    LKGB? WTFDTM?

  • Pervergence

    Last kiss good bye

  • Schwerepunkt

    OICTUVM

  • Pervergence

    Would like to see the 100hr sma give way on GC….

  • bdoone

    47K e-minis in 1 minute. stop run or news? cliff resolution? obama and boehner seen holding hands in rose garden?

  • wrc1k

     Could be “all-you-can-eat-pancakes” day, somewhere . . . anywhere . . .

  • http://dartht.blogspot.com/ Zen_Gerb

    new moon on the 13th.
    yeah – that’s it.  (sarc)
    http://www.moonconnection.com/moon_phases_calendar.phtml

  • Joe_Jones

    ISEE data so far show extreme readings for equities:
    http://www.ise.com/WebForm/viewPage.aspx?categoryId=126
    just saying…

  • AMCabrera

    da pair compared to the spx. 1430 tagged (of course few more points above) sooo yea.

  • MrMargin

    Buying climax, I’m out of my longs for now.

  • ridingwaves

    AUMN getting little squeeze juice..over the 50…now needs metal move higher…

  • Skynard

    Yep, took most off the table as well.

  • http://evilspeculator.com molecool

    Well, we are pushing above inflection points (thoroughly described in my last weekend update) and thus we should be now in rocket mode. Which means that you ought to have get positioned before the rocket took off (during the honeypot). Now you just let the sucker run until it hits the next cluster of resistance.

  • Rightside_ot_trade

    100 DMA at 1706 too
    Just watching hourly for
    a possible setup, obviously
    inside bars right now

  • Skynard

    Picked /SB back up, that Bitch!

  • AMCabrera

    http://content.screencast.com/users/AMCabrera/folders/Jing/media/ae8fe252-5545-49b4-bfad-6a9a667dc189/2012-12-11_1214.png
    well I have entered three sell orders in my reserve account past few days.. I had to slash one sell order up in my meta trader account it was too much.

  • wrc1k

     HO HO HO

  • http://dartht.blogspot.com/ Zen_Gerb

    you mean Sugar Bitch

  • Microwave_Prince

    Inflation… yeah right.

  • http://dartht.blogspot.com/ Zen_Gerb
  • Skynard

    Allot of puts out there:)

  • http://dartht.blogspot.com/ Zen_Gerb

    reminds me of the JJ comment what? a week ago?
    lots of puts, sold to the fearful back then.

  • AMCabrera

    http://content.screencast.com/users/AMCabrera/folders/Jing/media/93ce9dfb-36e7-469a-bb7e-34120b4af8f9/2012-12-11_1324.png
    so here it is..either you were or were not. Those 30 minutes determined the day until tomorrow.

  • Microwave_Prince

    US oil tanks bursting at the seams with oil waiting to be sold at a higher price.
    http://www.ft.com/intl/cms/s/0/e7e70a26-2692-11e1-9ed3-00144feabdc0.html

  • http://dartht.blogspot.com/ Zen_Gerb

    yep.
    me suspects a front running ramp -n- camp.
    the shorts covered, but no reversal down until tomorrow. (or the 13th, new moon)
    (1430 on the spoos for the last several hours)

  • ridingwaves

    ISR
    Talk about second guessing costing you a lot….was waiting for it to back down… Could still double from here…

  • http://dartht.blogspot.com/ Zen_Gerb

    oh man, here comes the Bobby Low “it’s all Bullshit” commentary..
    (Gerb ducks)

  • Skynard

    ZL 5 min triangle resolution is here. Going up, calls just shoot up.

  • Pervergence

    My little AUD is doing nicely……

  • Pervergence

    in at 104    target for 1/2 off at 105.22

  • BobbyLow

    The names of things do not matter, only what things are and they are what they are. . . and in this case they happen to be Bullshit.

    “What’s in a name? that which we call a rose
    By any other name would smell as sweet;”

    William Shakespeare

  • Skynard

    She’s going ro run again:)

  • http://dartht.blogspot.com/ Zen_Gerb

    I just saw a flicker down to 1420. wow.

  • amokta

    What happened to the Fiscal Cliff – SPX is up!

  • http://dartht.blogspot.com/ Zen_Gerb

    Uranus in conjunction with Bernanke

  • wrc1k

     Cue Zenger(b) . . .

  • amokta

    It was going to break one way or another!

  • http://dartht.blogspot.com/ Zen_Gerb

    T is the most important letter in the Alphabet.
    and a broken clock.
    http://s14.postimage.org/jyuxolqtt/temp1.png

  • amokta

    I like your cup of tea – Im long right now
    A rising tide lifts all boats (well those without holes!)

  • Schwerepunkt

    Checking windage . . . 

  • TWD_Proxy

     if you like astro, check out merriman on money :)

  • http://dartht.blogspot.com/ Zen_Gerb
  • Microwave_Prince

    Accumulation. 

  • amokta

    By the way, Mole was pouring cold water on T-theory not so long ago, so go easy on dishing out too may cups of T in one day – we don’t want any Tupac-style drive by’s,or an East coast West coast feud :-)

  • amokta

    Ok, so i stated the obvious :-)
    Getting the direction of the wind is the key, and not putting the boat out when there is no wind

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤  S H A K E   N ¤º°¨ 
    ¸„ø¤º° B A K E !“°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • Skynard

    Widening the playing field:)





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