Monday Morning Briefing
Monday Morning Briefing
Welcome to our Monday 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.
Equities still holding strong this morning and a pop above ES 1923.5 probably leads us higher. The 25-hour SMA has now been well established as support and if we breach it it’s possible we gain some traction for a visit of the 100-hour SMA.
Gold – also following the 25-hour but to the downside. Here I want to be short with a stop above 1250. From there a long is possible but I probably wouldn’t take it as the 100-hour is a bit over 5 handles away. I may change my mind if we get a very small trigger candle and an entry pattern I can’t refuse.
GBP/CAD – it’s just overcame its 100-hour for the second time and if it drops just a bit more I am long with a stop below 1.8179.
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Cheers,
