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Tuesday Morning Briefing
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Tuesday Morning Briefing

Tuesday Morning Briefing

by The MoleNovember 6, 2012

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.

The EUR/USD is attempting to build a base since yesterday. The lower 25-hr BB has been tested and we ar now above the 25-hr SMA. Looking positive but we need to push above 1.2800 to get us near 1.2880.

The E-Mini is using the early morning hours to sneak upwards. I would love to see a retest of the 100-hr SMA but if that doesn’t happen just draw a diagonal from the bottom up and find an entry this way.
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Natgas is once again at the 25-hr SMA. Possible short entry here with a stop above the upper BB (or lower if that’s too high for you). Not sure about a stop out – I would probably wait for a test of the 100-hr before going long.

Gold making upside progress and is now taking a breather at the NLSL (and upper 25-hr BB). Nice entry here with a stop below.

Crude just rested its hourly NLSL and is back at the 100-hr SMA. I am thinking long with a stop below the net-line.

USD/CAD at the NLBL – not sure it has the strength to cross it. Short right now (with a stop above the net-line) but only with a few contracts.

Cable playing pinball between a NLSL (about to expire) and its SMA. I would prefer a short here as the upside looks like the more difficult trade – for one we have not painted a real floor yet.

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Cheers,

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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