Thursday Morning Briefing

The volatile market conditions over the past two weeks have greatly diminished by appetite for taking short term setups. What we have seen especially on the Forex side borders the spasmodic and the more difficult/random the conditions the less I participate. No sense in forcing the issue as it’s not a matter of skill or experience. After all you wouldn’t take off in a Piper in the midst of a hailstorm either, right? So let’s apply the same common sense to navigating the tape.

2015-04-23_AUDJPY_briefing

AUD/JPY – I looked at this chart for quite a while after it caught my initial attention. What I like on a short term basis is that it’s not too busy blasting off in the opposite direction out of the blue. The daily context is mixed in that we’ve been trapped in a pretty nasty sideways range for over a month now – very much representative of the current  market conditions. I am long here 1/4R with a stop below 92.45 for the off chance that it manages to break above that daily NLBL at 93.03.


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Cheers,

Told You

Alright now put down your mobile phone and try to pay attention for more than ten seconds.

2015-04-22_zero

This razor bladed chop fest is exactly why I kept telling you guys to stay the [expletive of your choice] out of equities right now. But you wouldn’t listen, would you? Just had to burn a chunk of your ill gotten gains trying to prove that you’re smarter than the market. Which you aren’t – and neither am I – or the next guy for that matter. Perhaps next time you’ll listen?

Because when I say ‘stay out’ – I mean it.

2015-04-22_silver_update

Chart of the day – silver. Really made my day as I snagged a few forex stops. Never be afraid of taking that next entry – but always make sure to plan the trade and trade the plan.


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Cheers,

Make That Money

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.

2015-04-22_EURCAD_briefing

Forex and the futures are on fire this morning, so let’s do this. EUR/CAD – good long here with ISL below 1.413, be generous with your stop.

2015-04-22_silver_briefing

Silver – it’s still shiny and I like it long right here with a stop below 15.93. Below that I’ll be short but it’s not my favorite direction as the downside seems more limited.

You want more? Better pay up and join the club – leeches only get to see the tip of the iceberg ;-)


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Please login or subscribe here to see the remainder of this post.

You have been briefed. Now go and make that money money money!

Cheers,




    Zero Indicator


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    1. Time To Start Paying Attention
    2. Monday Morning Briefing
    3. Thar She Blows!
    4. Thursday Morning Briefing
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