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)
- Take profit and wait for the next trade opportunity which will most probably be with the FED interest rate decision.
- Take partial profit and move stop loss to entry.
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:
Source: Bloomberg
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
Source: Bloomberg
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