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.
Equities are hanging in the balance right now as I’m seeing ST support being touched on all three major index futures contracts. The most tasty IMO is the NQ as it’s on top of its lower 100-hour Bollinger. I’m long here but the odds are even and we could easily slide lower which would then become the theme of the day. My line in the sand here is NQ 4295 – below that I’ll be short with a stop above 4300.
AUD/JPY – similar to the EUR/SEK it’s been gyrating in a very nice channel pattern. I’m tempted to grab a long if it decides to descend toward 100 again. Stop would be placed at the low of the candle which breached and reverted the 100-hr BB (I hope that’s clear, just look at previous touches and it’ll become crystal).
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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.