Momentum slows and FOMO is rising.
Good Morning Traders!
Its Thursday and the trend continues, although US indices show a slowdown in momentum and Europe is trading mixed, we are near All time highs. Some stocks have been shooting straight up and others are just showing setups. In this indecision its very hard to start new positions to the long side and its too risky for aggressive shorts on strong stocks. Waiting is also a way to trade the market so patience is key here.
As for the positions on US stocks, follow our previous posts to consider stops and targets.
- Never chase a trade once it’s too extended from the entry zone.
- Never risk more than 1% of equity per trade.