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Wednesday Morning Goodies
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Wednesday Morning Goodies

Wednesday Morning Goodies

by The MoleAugust 14, 2013

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.

Gold in a very interesting spot right now as it’s rising above two colliding SMAs – the 100-h and the 25-h. I’m currently long with a stop below the 100-hour. Would not be short unless it breaches the NLSL below.

The Dollar just fell through it’s 25-h and is touching a soon expiring NLSL. Two strikes and I’m short with a immutable stop above 81.8. Caveat – the 100-h swinging up from below.

Beautiful Bollinger compression on the USD/JPY – I’m expecting a big move here soon. I would prefer the 25-hour leading higher but will take an SMA breach either way. This one will accelerate soon, keep an eye on it.

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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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