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Wednesday Morning Briefing
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Wednesday Morning Briefing

Wednesday Morning Briefing

by The MoleMay 8, 2013

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.

Gold on the run this morning and it’s approaching its 100-hour SMA. We should see some resistance there but don’t be hasty and wait for the candles to slow down.

Forex is off the hook this morning. Let’s start with the USD/JPY which is preparing for a big move. Which direction of course is the big question. I do like the context here near the 100-hour SMA and all those NLSLs.

CAD/CHF – could be a last kiss goodbye move but it’s looking strong this morning. Would not rule out a breach back above the SMA.

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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