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Wednesday Morning Briefing
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Wednesday Morning Briefing

by The MoleMay 28, 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.

Equities have pushed higher yet overnight but my current stop remains at 1.2R for good reason:

I’m happy but a bit paranoid about that divergence on the GBP/JPY which is now extra pronounced. So let’s keep our emotions tight and our stops loose ©.

If any signs of a reversal emerge we should look at our 25-hour SMA for possible support. Or if you want to hedge your current position then perhaps be short (or long puts) below ES 1908.

Crude looking like a good long above 104.37 – my stop would be below the 100-hr at 104.05.

USD/JPY – nice little entry there yesterday if you managed to grab an R or two. We may get another opportunity today – I’m already long right now with a stop below 101.81’5 (changed my mind after seeing that NLSL).

Public Service Announcement:

If you signed up for Heisenberg then be aware that I have not deployed the latest version yet. Which means there are no Jabber alerts just yet just emails. I’ll probably deploy it over the weekend as I’m doing some refactoring.

 

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,


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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