The Squeeze Is On!
The Squeeze Is On!
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.
Looks like the squeeze is on – equity futures have continued to rip higher overnight and the E-Mini is now facing the 25-day SMA which admittedly has only soft context based on prior interactions. We are a bit in limbo here on the ST side so I wouldn’t suggest any pertinent entries this morning.
Here’s one for the leeches though – EUR/CHF – very nice floor pattern and it’s now trying to pop over a NLBL. I’m long here with a stop below the two SMAs – pretty solid support if it decides to retest.
More below the fold for my intrepid subs…
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On all these setups I strongly encourage you use our futures and forex risk calculators – limit your exposure to 1% maximum. If you don’t understand the concept of risk, i.e. R, then I suggest you point your browser here.
Cheers,
