Thursday Morning Briefing
Thursday 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 ascended further overnight and our E-Mini campaign is starting to rack up the green. We’re at the 4R mark now and I’ve put my stop slightly below it as I’m trailing it at ~25% MFE. However we are now approaching the first major hurdle as we are only a few ticks away from the 25-day SMA. I do expect some resistance there and if we make it above it we’re good to go for another stab higher. So today should be a rather interesting session.
The NQ just breached its 100-hour SMA and we also have a brand new NLSL at 4,179.5 – that makes for a good bullish/bearish inflection point so stage your positions and stops around that.
Two more Forex setups are waiting below the fold – please meet me in the lair:
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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.
Cheers,
