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.

I don’t know why but I literally have setups crawling out of the woodwork today. Since I’m in a festive mood and I’m going to make this a freebie, so leeches rejoice! Let’s start with Cocoa butting against its 100-hour SMA – you know the drill: long on a breach and short if it fails in the next hour or so. I’m showing a bit of context in the daily panel as a long breach of the NLBL would probably drive us quite a bit higher.

Copper on the slide. I’m currently short with a stop above the 25-hour. If she reverses then flip positions near 3.68.

The 30-year is painting an interesting formation and I’m still considering my options (pun intended). The arrows show my long/short triggers – I would take a long as soon as it starts butting against that diagonal resistance/neck line.

The 10-year is looking quite a bit more bearish. Here I’m short with a stop above the SMA.

Corn – short again with a stop above at 723. Not my favorite trade today but technically valid.

But the real fun is on the currency side today – here’s the greenback which is still hanging in the balance. Use the 25-hour as your trigger line. Frankly this is more of a correlation chart – the better setups are below:

AUD/JPY – unfortunately this one already ran off, sorry – that sometimes happens. Actually I had a few more JPY related setups which were picture perfect but have since run off. &@^@%!

AUD/USD – I’m currently long as the SMA is rising but willing to flip if we drop below 1.052ish.

Great setup here on cable as it’s wedged in between two ST SMAs.

NZD/USD is still in the works – get it while it’s hot!

USD/CHF is trying to breach that 25-hour. I’m long with a stop below the SMA.

Sorry again about those JPY setups – all of the major pairs were on an inflection point a few minutes ago and then suddenly took off. But I think we have enough to play with here, right? 😉

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Cheers,