Tuesday 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 trust you all spent your three day weekend reminiscing about George Washington but now it’s back to the grind – so put on your game faces and try to look busy. The E-Mini has been working its way higher and may be touching a short term reversal zone. I am planning on being short here until I see a push above 1421.5 and above. The next hour or so should be interesting so pay attention.

USD/JPY meanwhile back at its 100-hour SMA – there’s also an hourly NLSL right below thus it’s a great inflection point for trading a bounce or breach lower.
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Bonds – the 30-year is attempting to climb its 25-hour right now. I’m ambivalent here as the 10-year already dropped below its own. Unfortunately the 100-hour is right below which means I’d be more interested in a long here, i.e. only see a setup if that 25-hour on the ZB is supportive.

Natgas pushing through its 100-hour – as you can see a breach has been good for acceleration recently and I intend to grab some longs here – short on a reversal.

Copper – short here near the 25-hour SMA. Long on a breach but the odds are low for that as I’m typing this.

GBP/CAD – at its 25-hour – let’s see if that climb continues.

EUR/GBP making up its mind – I’d be long ona  breach of the NLBL. Not my favorite setup but passable.

EUR/CAD – near its 25-hour SMA and you know the drill. That NLSL right below should offer extra support.

CAD/JPY may hold that NLSL – if not I’m short expecting continuation. Never under estimate the potential for a long (or short) squeeze in Forex! Which is why I keep you guys at 5x leverage max.

CAD/CHF should have some trouble breaching through all that resistance – short for now until it tells me otherwise.

Good to be back – too many holidays in the past few weeks 😉

Cheers,