Tuesday 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.
As you know I will keep my exposure rather limited over the next two days. I did however run into three juicy piggies on the FX side this morning. Here’s the USD/CHF once more touching its 100-hour SMA. Based on recent gyrations I’d say this is a 50/50 scenario and I’ll simply go with the flow here. The lower 25-hour BB is coinciding with the 100-hour SMA – a drop below those and I’m short. Until that happens I’m long with a stop below.
EUR/CAD – I’m looking for a breach of the 100-hour here. Also interested in trading a failure but I would prefer to see it touch the SMA before getting positioned. We’re running a clean ship here after all!
The EUR/AUD is already chewing on its own 100-hour and I’m short until I see a clear breach after which I’ll flip for a long.
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This entry was posted on Tuesday, December 11th, 2012 at 8:32 am. Both comments and pings are currently closed.