Busy Groundhog Day Morning Briefing
Strange thing is happening to me – for the past few months I keep waking up every day and it’s the same tape over and over again. Maybe all that bad karma has finally caught up to me and I’m being punished for all the suffering I have inflicted over the years on the hapless souls who found themselves on the other side of my trades.
Favorite line – deja vu – I don’t think so, but I could check with the kitchen. Now seriously though – equities are bouncing based on who knows what and we’re back right where we’ve been dangling over and over again during the past few weeks:
The hourly Bollinger shows us pretty close to where we should expect a reversal. However, if there’s a breach across the recent highs – let’s say 1886 then this puppy may just muster up the mojo to power higher.
The TF is trailing the spoos but if we see a little drop before a punch higher then we may be able to get a nice entry here on the hourly. Long above 1106.7 with a stop below both ST SMAs.
We have a TON of setups this morning, so let’s get to it. Especially the EUR and Yen pairs are looking delicious this morning. Here’s the EUR/JPY which is a good long above 140.36’2 with a stop below 140.2.
NZD/JPY also a long right here – stop below 87.8 which is below the 25-hour SMA – we may see a retest.
There’s a lot more where that came from – please step into my lair:
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