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Tuesday Morning Briefing
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Tuesday Morning Briefing

Tuesday Morning Briefing

by The MoleJanuary 7, 2014

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 spoos are still dancing sideways while the inside boys are trying to decide who to lead to the woodshed this year. Periods like these are both my favorite and my most hated times to pick trades. As evidenced by the IP whipsaw on the TF we may be taken for a few R before this picks a direction. The upside is that I expect a sizable move once a decision has been made.

Anyway, there is a rough edge here near the 100-hour – wouldn’t bet my grandma’s wedding ring on it but it warrants a small short term position. I’m short until it starts pushing above that 100-hour SMA. Will flip somewhere around 1831.

CAD/CHF – nice play here as it’s being wedged between two SMAs. Admittedly this is not an easy entry – you could try an RTV-L if the current candle closes lower (see the rules on the cheat sheet). Stop would be placed on the opposite SMA (< 100-h for long and > 25-h for short position).

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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