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Freaky Forex Friday Morning Briefing
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Freaky Forex Friday Morning Briefing

Freaky Forex Friday Morning Briefing

by The MoleOctober 25, 2013

Happy Friday and 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 spoos have been pushing sideways all week and we’re now locked in a pretty tight range. That’s positive in some way as the Bollinger compression suggests that a big move may be on the horizon. However, as of right now I’d be hard pressed to suggest a good entry here as we’ve got solid support below (100-h SMA plus NSL) and above (25-h SMA plus a ton of NLBLs). The NQ may be an easier victim:

Looking pretty bullish to me as long as the 25-hour holds and even then the 100-hour is not far away. I’d be long above 3373.25 with a stop below the SMA.

But the fun is all on the FX side this morning – here’s the AUD/JPY which is back at the 25-hour and we’ve got a NLBL which should be good for another two hours. Triggers on the chart.

By the way until about 830am EDT stay out of USD related trades and be mindful on the equities side as well – we’ll probably see a bit of volatility here.

Alight, more short term setups below – please step into my lair:

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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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