Now Reading
Wednesday Morning Briefing
29

Wednesday Morning Briefing

Wednesday Morning Briefing

by The MoleApril 3, 2013

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.

After yesterday’s smack down gold is looking potentially interesting again. Since I pulled this chart it’s back at its 25-hour SMA apparently due to some ADP miss. Once the volatility quiets down a bit I’d be open to either direction of that SMA.

Silver pretty much in sync – it also spiked above the SMA since I took this one but is currently sitting on the fence. Use the extremes of that 8:00am EDT candle to place your stops.

Platinum to complete the theme – similar pattern but due to my exceptional timing (i.e. posting right ahead of a major employment report) that candle has whipsawed in both directions. Let’s wait for things to cool down a little before picking a breach.

More goodies below of course – please step into my lair:

YM also at its 25-hour – since I snapped this it has dropped through and I’m short with a stop above. However I don’t have directional bias – if it pops back above I’m happy to ride that SMA higher. Yes, sometimes I get churned around a bit but that’s why I start with small exposure and build it as it goes my way.

NQ – mirroring the YM setup but it has barely moved which is a sign that the current trend may prevail.

AUD/CHF – the only FX victim I was able to extract today. Nice rising diagonal rising and if it breaches that NLBL I’m long – short on a breach of that NLSL or the diagonal – whichever comes first.

Cheers,

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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator