New All Time Highs Ahead of the Weekend
Good Morning Speculators!
On Thursday there was a speculative info that US-China tariffs agreement is having some issues but the news where bought back quickly. During the Asian Session US Futures have pushed to All Time Highs. At the moment this is what you should consider:
S&P 500 Futures (Chart above)
We remain with the same scenario as discussed Yesterday on DAX 8EMA break and Gold buying opportunity. As the angle of the trendlines is getting sharper, we are expecting a pullback in indices that may signify a short trade for a few days. This does not mean that it’s a short at the moment, it just means that you should stay cautious in the next 3-4 sessions. Also we have resistance lines on the ES and NQ. By the way, FTSE100 is feeling the most bearish for now.
The world markets are all in green at the moment and here is a link to check it quickly at any given time.
At the moment, I do not call any trades on US or EU index futures, we have a scenario playground with DAX and Gold so keep it in mind. Its Friday and there could be anything happening but its clear that we have come a long way till current prices and its hard to initiate new positions that are not momentum or news driven.
Cryptos also are slow and low volatile. As we re not seeking day trades or scalps, avoid for now.
As a conclusion:
Watch the market closely, don’t force trades and spend some time with the family if you see that the market is doing nothing.
Have a great weekend!
- Never chase a trade once it’s too extended from the entry zone.
- Never risk more than 1% of equity per trade.