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Technical trade note NASDAQ - 01 June 2018

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Barry Dumas
Nasdaq-technical-note

Update – NASDAQ trade note – 07/06/2018

Our Non-Farm Pay rolls trade idea on the NASDAQ has had a stellar run and reached our first target price of 7189 which is an all-time high for the NASDAQ.

Note: It will be interesting to see with the looming interest rate decision next week the 14th of June if the U.S. markets will continue the upward momentum. I will be keeping a close eye on the NASDAQ for another trade opportunity in the coming days.

How to proceed: (Two ways of managing your trade)

  1. Take profit and wait for the next trade opportunity which will most probably be with the FED interest rate decision.
  2. Take partial profit and move stop loss to entry.

Screen Shot 2018-06-07 at 08.31.45

Source: Bloomberg

*End


 

 

Trade idea on Nasdaq

Being jobs Friday and all, I will be looking at the Nasdaq for a potential buy opportunity. The price action over the last couple of months have been testing the 7025 level. We might just see a break through this level today if the Non-Farm Payrolls numbers come in better than expected. 

Read about today's NFP announcement HERE!

Below you will find our full trade summary on the Nasdaq:

Screen Shot 2018-06-01 at 10.46.28

Source: Bloomberg

Trade Now!

Take Note: I expect a lot of volatility coming through with the release of the Non-Farm Payrolls numbers and with a lower than expected number we might just see the price reverse and move lower.

Trade: Nasdaq

  • Entry (Buy): 7047
  • Stop loss: 6887
  • Target price: 7189

Screen Shot 2018-06-01 at 10.47.55

Source: Bloomberg

Trade Now!

 


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