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.

EUR/USD has been zip sliding the 25-hour SMA – a breach higher gets us into a long position. Until that happens I will remain short (watch that NLSL below).

Dollar index doing pretty much the inverse – same game.

Cotton painting some type of short term inverse H&S I think – whatever it is a breach of 85.5 would get me into longs. A drop below the 25-hour should sugest we go to 84.


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In case you missed it catch up with my weekend post: Fresh Baked Mandelbrot.

Cheers,

This entry was posted on Monday, March 4th, 2013 at 8:14 am. Both comments and pings are currently closed.

  • badflightrisk

    HL down big this morning on new purchase

  • http://ibergamot.blogspot.com/ i Bergamot

    Good Morning, Boss (or whatever it is on your side of the Pond)
    Excellent weekend post! Still working thru it

    For future-less folks, there is an etf for cotton. BAL is the name, liquid enough, spread about 5c
    just don’t do any TA on it – use futures for signal

    Also, Silver is interesting. Providing that recent low holds: 28.85 May Silver will get me long;
    and daily close above 29.50 is crazy bullish.
    All this regardless Dollar action, IMHO

  • momac

    I have a newbie question, when you say you’d go long or short  if it breaches or reverses at a hourly sma, do you wait for an hourly bar to close before taking a position.  thanks

  • Skynard

    Must be a substantial move coming, place is empty.

  • BobbyLow

    Could be.  For the heck of it, I scanned the News “For Entertainment Value Only”, and found this Gem.

    “Investors reduced bearish stock bets to the lowest level since at least 2007 as the bull market in American equities begins its fifth year.”

    http://www.bloomberg.com/news/2013-03-04/short-sales-fall-53-with-u-s-bull-market-starting-fifth-year.html

    Hmmmm?  If Bears are Dead, where does the next big rally come from?     LOL

  • BobbyLow

    Oil just broke 90.    

  • momac

    wow, look at coffee go

  • jmoney3000

    Quiet as can be–no one around me is trading.  Bus moves fastest once everyone is off, right?

  • http://ibergamot.blogspot.com/ i Bergamot

     Yes, but which way?
    The damn bus seems to be riding in a circle so far

  • http://ibergamot.blogspot.com/ i Bergamot

    @Molecool:disqus

    I don’t know if its just me, but there is a script warning on reload:

    “A script on this page may be busy, or it may have stopped responding. You can stop the script now, or you can continue to see if the script will complete.

    Script: http://cdn.doubleverify.com/avs422.js:35
     

  • Skynard

    Shorting at VWAP.

  • Pervergence

    Same here

  • Skynard

    Perfect place for it IMO, if it can climb above we have the bull.

  • http://evilspeculator.com molecool

    Thanks – I”ll bitch at my advertising guys.

  • http://evilspeculator.com molecool

    What everyone knows is not worth knowing. Ignore it and follow the charts.

  • http://evilspeculator.com molecool

    Since nobody’s around today I think I’ll take the day off. Need a breather as I have been coding all weekend.

  • Skynard

    Well deserved, Thanks for the awsome post:)

  • Skynard

    Taking one more crack at the BB:)

  • Pervergence

    flipped to long at the return to VWAP…….done with ES now…..s SI

  • Snowbreath

    I appreciate your Sunday post, very well done.

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤ø„¸F R E S H „ø¤º°¨ 
    ¸„ø¤º°¨ M E A T“°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸




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