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.
Here’s yesterday’s E-Mini wrap up video. No comments necessary – the Zero Lite pointed the way without fail, just watch the signal signal throughout the session.
The E-Mini is stuck between its 25-hour and an hourly NLBL. Use it to get positioned before the open.
AUD/JPY – kissing its own 25-hour – NLBL above, which may bolster resistance.
EUR/CAD at 25-hour and a NLSL – it recovered from a drop through the SMA, so let’s see if it can hang on or if this is the beginning of a little correction.
EUR/USD – ditto!
USD/JPY – this pair is really growing on me (in unsuspected places!). Nice touch of the 25-hour here – long with a stop below the steeply rising SMA.
Crude – at its 25-hour – looking a bit weak but it may be faking it. Wouldn’t be the first time…
Cotton – also at the 25-hour (someone must have sent out a memo earlier today) – great spot to get positioned.
Gold – wedged between SMA and NLBL – looks very much like the E-Mini – who would have thunk?
Silver – ditto!
Corn – 100-hour SMA and 25-hour SMA touch – excellent spot to get long with a stop below both. Failure would initiate a correction.
Soybean – I guess it’s just going with the script today. Same idea as with all of the above.
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This entry was posted on Friday, January 18th, 2013 at 8:42 am. Both comments and pings are currently closed.