Friday 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.
Copper is finding itself wedged between its two short term SMAs. I’m thinking short on a breach of the 100-hour and long on a breach of the 25-hour SMA. It’ll have to hop over one of them in the coming hours – it can run but it can’t hide. Mwuuaahahahaaaa!! Come to daddy…
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Soybeans also trapped between the 25-hour and an hourly NLBL – this one is good for the next three hours or so.
Corn – I’m currently short with a stop below the SMA. You know the drill.
NZD/USD – also short here with a stop above the NLBL. Long on a breach but mind the 25-hour SMA which would surely offer some resistance. So a short would be my preferred setup here.
This entry was posted on Friday, January 4th, 2013 at 8:35 am. Both comments and pings are currently closed.