Monday, April 1, 2013

Setups for tomorrow

Keeping it simple for tomorrow, since today was a good trading day.

ZB had a nice move today, and its important to be aware of the various support and resistance levels, as well as fibs.

Support - 144 '23, 144 '13 and the 61.8% fib is 144 '12. So this 144 '12-144 '13 seems to be a good level to buy for move back to 144 '20, with a stop below 144.

ES fibs are a bit more complex here, while the 61.8 level co-incides with the 1559.75-1560 resistance, my new idea on fading the 78.6% level make me want me to short 1562.25 instead. I am going with the conservative route and putting in an order to short 62.25 with a stop above 65 and see how it plays out.

EURUSD is the next one of interest. Lets see if it gets up to 1.2950ish, might turn out to be a nice area to fade?

Am watching a few other markets at the moment, but might not necessarily take trades in them. 

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