Now Reading
Friday Morning Briefing
46

Friday Morning Briefing

by The MoleMay 2, 2014

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.

We’ve had a laundry list of headline risk this week and today is no exception. By the time you read this we’re probably in the midst of absorbing the shockwaves of the monthly unemployment rate for April.

The spoos have been treading water after being unable to push through the wall blocking bull heaven territory which lies beyond 1880. I expect some wild swings around 8:30am EDT, so don’t get positioned until things have settled down. A drop lower may be defended near that 100-hour SMA, so we’d be talking around 1872. If it happens check the Zero Lite for signs of long interest (i.e. bullish signal divergence).

Platinum is looking very interesting here as it’s forming some type of inverse H&S near its 100-hour SMA. I would take a long above 1428 with a stop below the SMA.

More below the fold for my subs – please step into my lair:

evil_separator

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,


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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator