Waiting For The Big One

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 big one marked on the calendar this morning – at 8:30am EDT we’ll be graced with the U.S. Nonfarm Payroll report. As always it’s expected to produce some volatility and most major markets I care about have been stuck in an anticipatory sideways churn.

Here are the spoos- BB compression deluxe and I wouldn’t dare to predict which way it’ll swing.

EUR/USD – pretty much the same.

AUD/USD wiggling around within its 25-hour BB.

Gold – flat as a flounder but less tasty – I do like that 100-hour approaching from below however.

Bonds – flat…. shall I continue? 😉

Really tough environment for taking short term trades. Even if you pick the right direction(s) odds are you’ll get caught in the initial whipsaw. So what to do?

Nothing! Just stay away and wait it out – not worth taking unneeded risks here. By the way – if you’re in Australia or are holding AUD exposure be aware of the CPI announcement early in the morning (in Australia – on the U.S. East Coast it’s at 8:30pm EDT).

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,