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.

The E-Mini has managed to hold its 25-hour until this morning and we are now back at the 100-day SMA. Of course the question here and right now is whether or not we’re going to see a last kiss goodbye or if the bulls can manage to push this thing over the fence. Great short entry right now with a stop just a few ticks above ES 1580. IF breached longs position with an inverse stop are in order. No context of value on the hourly chart, so let’s use the daily.

Crude falling back to its 100-hour SMA which makes it difficult to manage a stop. If it recovers and pushes above the previous candle then I think we have a good long. Otherwise I’m going back into neutral here.

I’m currently short copper with a stop above the previous candle’s high. On a reversal I would take the long side.

USD/JPY – solid setup here as the two SMAs are meeting and there’s a NLBL above. Short below both SMAs and long above the NLBL.

Solid setups across FX and commodities again this morning – please step into my lair:

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Cheers,