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Tuesday Morning Briefing
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Tuesday Morning Briefing

Tuesday Morning Briefing

by The MoleNovember 27, 2012

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.

About an hour ago I noticed an interesting configuration on the E-Mini which prompted me to shoot out an early briefing email to my subscribers. Once again the 25-hour SMA is being retested which quite apparently has become an crucial short term support level. This means that holding the 25-hour SMA will most likely trigger a buy signal today, losing it may produce a failure or neutral session.

Some of you have been attempting to get long entries but seemingly were being stopped out a few times. Given the fact that today’s low is currently at 1401 and the trigger line is at 1405 I take it that you probably got stopped out by a handle or two. Yes, that is frustrating but there is no easy answer to this. An ID trigger entry is no different from any other discretionary entry you may take.

In this particular context I would put my stop a handle or two below the rising SMA, thus knowing that a failure of the SMA has the highest odds of either invalidating or postponing a long entry. Context matters – always. When I suggest ID setups then I strongly suggest that you use your own charts, indicators, stop rules, etc. to get positioned.
[amprotect=nonmember] More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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Sugar is right at the ST maginot line – I am only interested in a long position if she manages to breach.

Natgas stopped me out late yesterday and I’ll give that long trade another shot here with a stop below the hourly NLBL. That breach of the 25-hour SMA looks promising but it’s still falling fast, thus we may get whipsawed a little. Do not get over exposed here – I think you all know why by now.

Currencies – the greenback is near the 25-hour SMA. I want to be long with a stop below the NLSL.

Very same setup/idea over in the USD/CHF. Once again my stop is below the NLSL (and the SMA of course).

EUR/JPY – another touch of the 100-hour SMA. I am long with a stop below. Note that the 25-hour is about to meet the 100-hour. A push back above both would be confirmation of my long position.

EUR/CAD attempting recovery after a steep drop into the 100-hour SMA. For some context it’s interesting to note that we are going to paint an outside period today plus we’ll have a brand spanking new daily NLBL that’s good until next Tuesday. So what happens here at the 100-hour may have medium term implications.

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Cheers,

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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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