Friday 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.
Equities have been holding soft support in accordance to the level of participation I observed in yesterday’s session. No guarantees or reason to jump to conclusions but things are looking a bit more positive as of right now. The TF is currently plotting above its 25-hour and an hourly NLSL – so far so good (for the bulls that is). As you recall I currently do not have a dog in this fight as I closed out near the EOD per my campaign rules.
Setups – quite a bit of activity on the Forex front this morning. Here’s the USD/CAD which I expect to continue its current ST trend lower. My entries are on the chart (the opposite entry representing my respective stop). A long is possible here as we have very good context courtesy of the 25-hour SMA.
More below the fold for my intrepid subs – please step into my lair:
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