CAD Me If You Can!
CAD Me If You Can!
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.
My favorite setups this morning is the CAD/JPY – unfortunately it’s already run off a bit. Now, short of chasing it I’d be looking out for a last kiss goodbye move – i.e. a retest of the NLSL near 91.2. Long there and put your stop a healthy distance below the 100-hour SMA.
Equities are looking interesting but still ambiguous, which has been the theme of the last week. Good context via the two converging SMAs but I would want to see a breach of either the NLBL or the NLSL, which are however over 8 handles apart. I’ll be taking a trigger and then place a stop beyond the farthest SMA.
So this will take a bit of finesse, n’est-ce-pas? But there may be an easier way to hitch an early ride on equities – please join me in the lair:
It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.
Please login or subscribe here to see the remainder of this post.
Cheers,
