We’ve Got A Squeezer

Interesting bounce off those lows again and quite a few bears got shot out of the water here. We lowly steel rats however grabbed some early morning entries like bosses and if you participated your account should be flashing green at this point. Strangely enough some of the positions I was most excited about didn’t make much of a move and I have decided to close most of my short term forex and futures positions out. So let’s review the keepers:

2015-04-06_EURJPY_update

EUR/JPY is one – in fact the JPY is looking good across the board. Definitely hanging on to this one. Yes, it’s at break/even but it’s not unusual for the daily NLBL (right panel) near 130.18 to be rested.

2015-04-06_USDJPY_update

USD/JPY – nice entry there and I think it’s off to the races. Alright – I concede we haven’t moved much yet but this first spike higher is looking solid. I’m moving my stop to break/even here.

2015-04-06_EURUSD_update

EUR/USD however was not a keeper and neither were any of the other EUR pairs I posted today. No damage whatsoever fortunately and I’m closed everything out at b/e. Plus I can’t really be too unhappy about the potential of this break out failing. Quite honestly however I don’t think the fat lady has sung here yet. The current formation is looking bullish on the daily and I’ll be sure to revisit this one tomorrow morning.

2015-04-06_NQ_update

And I kept the big winner of the day for last – the NQ futures. GORGEOUS entry right before we took off. I sincerely hope some of you guys participated in this one. I’m going to take 50% profits here at 4360 and keep the rest with a stop at the 100-hour SMA. In case you’re wondering, I’m not convinced that the bulls are out of the woods here and it’s got nothing to do with penitent pennants – why I tell you below the fold:


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Good participation today – really glad to see how some of you new guys are embracing what Scott and I have been presenting here. Keep it up!

Cheers,

Monday 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.

2015-04-06_spoos_briefing

Boy, we have a ton of excellent ST setups waiting in the bullpen this morning – so let’s dive right in. The context on the spoos is fairly juicy here – observe the bounce off the lower 100-hour BB on Sunday night and as of now the tape is busy drawing in participants before a big move.

2015-04-06_NQ_briefing

However I wouldn’t trade the S&P futures this morning, instead I’m looking at being long the NQ above the NLBL near 4280 and short below the (already expired) NLSL at 4266.25.

2015-04-06_YM_briefing

Alternatively or in combination the YM also has good ST context – trigger and stop levels are 17560 and 17511.

2015-04-06_EURUSD_briefing

The EUR/USD looks like it wants to pop higher and I’m planning a trip to the ATM right after finishing this post. Long here already with a stop below 1.0983. I hate this trade but have got to take it ;-)

Alright – we’re all warmed up now? Plenty more waiting below the fold:


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So did I promise too much? GREAT setups today? It’s good to be back, especially when the tape throws such juicy setups at us. See you guys later this afternoon.

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.

2015-02-18_events

Great setups across the board this morning but before you go nuts be aware that we’ve got the FOMC minutes at 2:00pm EST today. So be sure to be out of any of these short term setups unless they have moved significantly in your favor. You have been warned.

2015-02-18_NQ_briefing

NQ – I don’t really think we have a setup here. Sideways range overnight and I don’t see it making any big moves before the announcement. But if you think otherwise then here’s a pretty solid inflection point at NQ 4387.

2015-02-18_USDJPY_briefing

USD/JPY – long here with a stop below 119.07.

2015-02-18_EURGBP_briefing

EUR/GBP – that’s my lottery ticket of the day. Long here 1/4R with a stop below this morning’s lows. FYI – this may as well fall off the plate – so if stopped out I may consider another lottery ticket to the downside (depending on velocity – not in sideways churn tape).

2015-02-18_ZB_briefing

ZB futures – I told you to watch this one and that’s exactly what I’m doing as well. No setup here yet but I’d be long above that stack of NLBLs. OR short right below it if it seems we’re not pushing higher. Yes, this one may take a bit of finesse but it has great potential either way IMO.

Seven more goodies below the fold – please join me in the lair:


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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,




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