Time To Get Busy
Time To Get Busy
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.
Time to get busy folks – the GBP/JPY continues to push upward and the spoos are still thinking about it. Before we get to the charts let me make something crystal clear. This is probably the best spot for the bulls to stage a bounce higher – IF IT FAILS then things are going to get ugly quickly. The setups below account for both scenarios so don’t get married to whatever trade you find yourself in – be religious with observing your stops. And chill – we are playing the odds like we should – don’t be the house.
Alright leeches – here’s the spoos dancing on the 25-hour and we’ve got a NLSL right below. Suffice to say that the SMA needs to hold – it really really does or we head lower. Triggers are on the chart.
The NQ is looking quite a bit more bearish however – no bounce in sight just yet. I’m short here with a stop trailing the SMA lower.
My favorite equities setup this morning is the YM – more details and setups below the fold:
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Cheers,