This is the day to cover some longs

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Updated: 20 March 2020

Bounce cover day

Editor note: As you have been accumulating in the past few days according to our ideas, the bounce in futures and the first target of 2500 has been hit today in the pre-market, futures trading. Our team will liquidate 30-60% of the positions today during the trading session in order to re-evaluate the portfolios and trades over the weekend. We are still facing more economic downturn and will be very cautious in setting up new positions. As for trade – ideas, there are no optimal trades now that offer a calculated probability and good risk reward ratio.

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Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

Happy Trading!