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.

Once again the situation on the equities front has turned into a chop fest. Plenty of fun to be had on the FX and futures side however. I like this hourly RTV-L on silver right now. IF the current candle strikes then we are talking 110 ticks of risk which ought to keep you safe during the obligatory shake out attempt. Let’s see if that 100-hour can be held. May be bad news for equities – FWIW.

EUR/CAD – yes, it’s run quite a bit but never under-estimate the squeeze potential on Forex. Triggers are on the chart.

More below the fold for my intrepid subs:


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Cheers,

This entry was posted on Thursday, January 23rd, 2014 at 8:30 am. Both comments and pings are currently closed.



  • Skynard

    Trying long /YM at hourly SL

  • Skynard

    Flipped

  • http://evilspeculator.com molecool

    Hehe – you’re just a sucker for punishment…

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

    go go gadget gold/silver..

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

    he lives in MIchigan…hey Skynny, how cold is it today?

  • Skynard

    Well, yesterday morn was -0-. Now 12

  • Skynard

    Well, still think we are going up just catching a ride to test the low now.

  • Ronebadger

    You’re in Michigan? Do you bleed Green or Blue (or don’t care?)

  • Skynard

    Yep, blue all the way

  • Skynard

    To long for the open:)

  • Ronebadger

    I’m in NY, but our daughter’s a Spartan. But we can still be friends on this board ;)

  • Skynard

    Ya, my daughter will be going to State this year.

  • Ronebadger

    Interesting…good luck to her!

  • Ronebadger

    NG…down, but not out

  • http://evilspeculator.com molecool

    It was about time!

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

    S&P down 15pts.
    good morning Vietnaaaaam.

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

    just down the street from Devil’s Tower Road….how evil of them.

  • http://dartht.blogspot.com/ Darth_Gerb
  • captainboom

    Temp is zero F on the west side of the state this morning. Got dumped on with lake effect snow last night. Just got in from clearing the drive. Don’t care about sports, but went to Michigan Tech myself. They’ve had over 200″ of snow so far this season. Should be good for their Winter Carnival in a couple of weeks.

    http://www.mtu.edu/carnival/

  • DollarChaser

    it hit 100 where i was yesterday. crazy world we live in.

  • SS_JJ

    Good morning to you too Sir. I love the smell of a greener account in the morning. ;-)

  • Skynard

    Long 5 min div.

  • SS_JJ

    Beautiful daily candle developing so far on USDCAD.
    I have entered a small short from 1.1137, and will add some more if 1.1090 is breached. Stop at 1.1180

  • Dyellowflash

    Stopped out of DOW longs, switched to short b4 open & TP-ed. Now left with a small short position. thanks for the wheat heads-up! I am flying tmr, so taking half off the table :)

  • SS_JJ

    I’m not catching falling any knifes today. Need to see an exhaustion sell first

  • bdoone

    knife catching here for a bounce: daily pivot S3 1821.75 held

  • Skynard

    /NG up next, quite exhausted to the upside:)

  • SS_JJ

    5 min ZL still neg. Me thinks we have a down trend day on our hands

  • SilverEagle

    What happened to those alerts? Mole still having issues with backend?

  • SS_JJ

    He is too busy having streets named after him.
    ;-)

  • bdoone

    Quick look I see 21/45 closes >0 1st 45mins: not a trend day by that definition but can always morph into one if each bounce is shallow and sold

  • bdoone

    Quick look I see TICK 21/45mins >0 1st 45mins: not trend day by that definition but doesnt mean it cant morph into one.

  • amokta

    VIX still about 14

  • Skynard

    Looks like it, short or a break again. Ugly one!

  • Dyellowflash

    Added to shorts. I am not sure about a down TD, but exceed my timeframe, so am willing to short. TP-ed a bit more of it at 16181 for now, rest i am holding until min. target of DOW 16166.

  • newbfxtrader

    Hope you took my hint on yen pairs not making new highs with the equities :)

  • Sean

    Just above the volume hole, and looks like it may be starting the mandatory retest if this is going to continue lower… 25d ma target? Also an hourly NLBL near there at 1830.25. Those should be key areas to watch… also, nice fake-out attempt on the IP from yesterday, but you would not have been whipsawed if you either used the SPX or the OP on the /ES as your triggers… beginning to understand why Mole says the says CI rules don’t have an edge on /ES, but I think there’s a chance that could be fixed with some tweaking of the rules, but still working to figure out what those tweaks are…

  • Skynard

    FN AUD needs to get some legs, otherwise………..

  • newbfxtrader

    Dont tell me you are long. Low number from China last night.

  • Dyellowflash

    TP-ed at 16170. Check up the hourly ES / SPY chart over the last 2 mths. It aint looking good for now…

  • Skynard

    Tried .875, stopped out. Long again .8705

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨

    ¨°º¤ø„¸ N E W „ø¤º°¨

    ¸„ø¤º°¨ P O S T “°º¤ø„¸

    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

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

    is AUD correlated with SILVER?….it was until the 16th..

    http://s10.postimg.org/5rjg7b6k9/silver_aud.png

  • http://evilspeculator.com molecool

    What alerts?

  • jmoney3000

    Whats your reasoning for being long? Dont get me wrong im looking for the pair to swing back up on a daily chart soon but not today…

  • SilverEagle

    Trend day alerts. Looked in spam filter – don’t seem to be going out like they used to at 1015et. Know you mentioned few days back there was a problem.

  • Skynard

    BB compression.





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