Friday Fun or Bullish Run
Its Friday and its 5am in NY. Early birds are up for a run and we are just checking some charts.
We closed with an inside day yesterday on Futures and SPY (SP500 ) and today waiting for some volatility and test of the previous levels. No important news are planned to be released so just go with the flow. The market is feeling slower we are ahead of the long weekend next week.
FTSE bounced off 7200 mark, looks like something positive is happening as I don’t really follow the fundamentals on European markets. If you had positions make sure you don’t risk a $. Its in a range so it’s a chop-chop situation.
DAX bounced to resistance noted yesterday and got rejected during this European session. This is the high to trade against. Check Hourly charts for clues.
S&P500 Futures got some traction yesterday and closed green but inside the previous bar. At the moment we are still in the range with some bullish traction. Supports and Resistance remain the same as we didn’t break the range. Slow market is expected today if no fundamentals appear.
GC (Gold futures) could start its slow rise. Closed weak yesterday but our pivot at 1455s remain untouched. The 1480s has to be breached with volume and continuation so we can have a momentum move.
Trade to be actively managed.
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- Never chase a trade once it’s too extended from the entry zone.
- Never risk more than 1% of equity per trade.