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.

2015-03-03_gold_briefing

Gold dropped hard overnight but then bounced back. If you are short gold right now I recommend that you exit here or move your stop to the b/e point as that series of daily candles is starting to look mighty bullish. In fact I would consider a long position here above 1210.

2015-03-03_AUDNZD_briefing

AUD/NZD – actually the same formation seems to represent itself on most AUD pairs this morning, so pick your poison. Long above the NLBL with a  stop below that recent swing lower.


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2015-03-03_events

We have some event risk coming up – in an about an hour on the CAD and later this evening on the AUD.

Cheers,

Fantastic Tuesday Morning Briefing

Belated but excellent kick off for the week. I literally have setups crawling out of the woodwork this morning. The Forex side in particular is off the hook with plenty of goodies to be had. Let’s get to work and bank some coin!!

2015-02-17_NQ_briefing

NQ – wait for a retest of the NLBL and then be long with a stop below 4365. Short side is limited here as the 100-hour SMA is now pushing higher and will most likely offer support.

2015-02-17_GBPUSD_briefing

Cable – excellent setup with beautiful daily context. Triggers and details on the chart.

2015-02-17_crude_briefing

Crude – either long here right now or wait for a push above the NLBL. Again, I do very much like the daily context.

2015-02-17_gold_briefing

Gold – short on this one with a stop above the 100-hour SMA. If breached then I’ll be long with a stop below the current lows.

Quite a bit more below the fold – please step into my Mediterranean trading lair:


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Did I promise too much? So many setups, so little time. Get to work but keep it frosty!

Cheers,

Rejection

After six years of pain the bears are used to rejection near inflection points. Which is why we keep seeing those bounces just when it looks like the tape is about to fall off the plate. But in the past few weeks I keep thinking the same thing over and over: How many stick saves are we going to see before this thing falls off the plate?

2015-02-02_spoos_update

However, that said – the bears are starting to wear our their welcome. Yes, medium and long term tops take a while to form, but there comes the point when it becomes clear that there’s not sufficient selling pressure to take this dog any lower. That time is approaching fast now – if you project forward a few days: Let’s assume we get two or three more closes near the diagonal I painted on the daily (left panel) and we’ve effectively produced a bullish defense line. Odds for a bounce higher will increase rapidly now every day we remain above 1980.

I’m still short here from ES 2040 and won’t touch those until we fall off the plate or I get stopped out at break/even. It’s make or break time for the bears – let’s see if they blow it once again.

2015-02-02_VIX

The VIX also at the line of scrimmage  - that 23/24 mark has been holding thus far and supports the notion that we are at a technical inflection point.

2015-02-02_USDCAD_setup

On the setup side I’m actually taking my cues from the short term panels in expectations of turning them into daily campaigns. Here’s the USD/CAD which currently looks like an experimental long until about 1.256 – I want to be short below that.

More futures and forex setups below the fold:


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Cheers,




    Zero Indicator


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