Wednesday 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.

The E-Mini has been a busy bee overnight and while we were sound asleep retested the 100-hour SMA a few times. Thus far it’s been holding up and we may get a touch of the 25-hour near the NYSE open. Good setup here – I want to be long with a stop below – and very short if I get stopped out. So to be clear – long until the stop then reverse the sucker with a stop above the SMA.

AUD/USD butting against its own 25-hour which is starting to roll over. Could be a last kiss goodbye thus I’m short here with a stop above. Possible target is the 100-hour SMA near 1.0442.
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Natgas is attacking the 100-hour SMA after busting across the 25-hour which has ruled it for days now. Valiant effort but i’m short here with a stop above. Since that SMA is dropping fast I’ll probably get resolution quickly – upon stop out I will reverse the trade. The long side has more potential but is also a bit more difficult to protect – not much to hang on to yet.

I want to see a touch of the 25-hour on the USD/JPY which would put me in a long position.

NZD/USD resting its 25-hour – good place to be long assuming that SMA continues to hold the course.

EUR/JPY – waiting for a touch of the 100-hour. But don’t go long blindly – wait for it to settle a little. The rising SMA works in our favor.

Similar situation but already tested over on the CAD/JPY – I’m long with a stop below the previous low (the one before is a bit too distant for my taste).

Cheers,