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.

We’ve got a little bit of a deja vu happening on the E-Mini – almost identical setup as yesterday and there’s no reason to anything differently today. Long right now with a stop below the SMA.  Willing to flip but the 100-hour is offerings support below so it would be a short trade. Things seem to be flattening out a bit here – is this rally running out of steam?

GBP/USD has been zip lining its 25-hour – when you connect the brief spikes above however you’ll get a straight diagonal resistance line. I would wait for a touch of that one to get positioned in either direction.

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By the way – apologies for sending this one out late. Spain has not yet switched over to DST (it won’t until the end of March) and in the meantime my posting schedule has been shifted forward by one hour. Doesn’t sound like much but it’s annoying when you’ve got a set schedule of doing things, especially if it’s in the middle of your day.

Cheers,