Monday 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.

Obviously we’ve had little activity post Christmas and the 25-hour BBs are pretty compressed as would be expected around this time of the year. However I do like that 100-hour creeping higher and on the TF I’m going to risk a long here with a stop below the SMA.

Similar configuration on the NQ – here we are wedged between two converging SMAs plus there’s a NLBL sitting right on top of the 25. So I’m waiting for a breach to the outside – up or down.

A few more FX goodies for my intrepid subs:

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Heisenberg Update: Last night in the comment section I posted a EUR/CAD 60min long entry as it was triggering. Here’s what happened since:

As you can see the system took profits at 1.2R and immediately re-entered for 75% of the units. That’s a little work around since Ninja7 has an internal bug that prevents us from simply dropping 25% of the units. On the upside it does make logging a little bit easier. Since then price swung back down but did not touch its original stop. Then it continued higher again – and that is almost textbook behavior and I touched on that in my little write up I posted yesterday (now copied to the Heisenberg page – still work in progress). We reached the 2R spot where we advanced our stop to the break/even point. Let’s see if this one takes off now 😉

UPDATE 12:30pm EST: Campaign came to an abrupt end two hours ago:

Fortunately our stop was advanced to the b/e point as we briefly exceeded the 2R mark. So we basically ended this campaign with a profit of 0.25R. Better than a kick in the shin 😉

If you missed it – you still can sign up for the free Heisenberg beta.

Cheers,