Gap and Go for Monday European Open

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Updated: 25 November 2019

Monday 25th and 5AM in NY. We are seeing bullish sentiment all over the Europe and US futures are gapping up.


Market Comments:

For the major indices, we closed mixed on Friday but that did not weaken the bulls. We are feeling the ease of the holiday season coming in a few weeks and this week being a short one for most of US traders we expect some lower volatility in the upcoming days. The market calendar does not have to surprise us with important releases so let us just focus on the charts.

FTSE has confirmed a local low at 7200 and is narrowing the range for a potential breakout in the nearest future. The main question is When. At the moment consider resistance 1 at 7400 and resistance 2 at 7450 as being key levels on the short term. I hope you played the shorts out of the trend line last week and made money, worst case closed at breakeven!


DAX is feeling well with everything that is happening in the US and EU. It is back in its range and there is two-way scenario here. I would not chase a trade here if I had to decide. Supports at 13300s and Resistance at 13050s.


S&P500 Futures at the moment is testing resistance noted at 3120s. We still have that blue resistance line that worked well last week. If we re-test it this week and move back down, a harder drop might be coming as a possible outcome. For now consider support at 3091ish and see how 21EMA is catching up on the price near 3090s.

GC (Gold futures) slightly lower. Our supports at 1455ish could be violated today so its good if you covered some last week when we didn’t get momentum to the upside. At the moment lets see if we hold. Don’t really like it here as it showed no power for the last three sessions.

Avoid for now.

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  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!