Day Trading Strategies
Click for more information on day trading strategies
Today’s Analysis
18th July 2018
Was a nice rise across the board yesterday on indices as worries were shaken off and the 7580 FTSE 100 low area held again. The bulls managed to break the key 7640 level to reach 7660 where we have remained overnight.
The U.S. Fed chairman Jerome Powell raised tariff concerns on Capitol Hill while continuing to tout the strength of America’s economy yesterday. Testifying Tuesday before the Senate Banking Committee, Powell was responding to lawmakers’ questions about the economic impact of President Donald Trump’s tariffs. “In general, countries that have remained open to trade, that haven’t erected barriers including tariffs, have grown faster. They’ve had higher incomes, higher productivity,” he said. But Powell reiterated his upbeat assessment of the economy and signaled that while policy makers plan to continue gradually raising interest rates, the tightening isn’t on autopilot.
FTSE 100 Trading Signals, Forecast and Prediction
For today I am looking at two key areas – 7716 for resistance and the 7640 are for support. 7640 was initial resistance yesterday, and now we have moved above it it will (in theory anyway!) become support. There are also some other indicators showing this area – the daily pivot at 7642, 200ema on the 30min and the 25ema on the daily. As such I think this area will hold as yesterdays positive vibe continues into today. If it does hold then we should be on for a rise to the next key resistance level at 7716.
Bloomberg’s Asia Report here
Membership
If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
Results
I keep a record of all the trades communicated to members via the morning email trade plan and those alerted live. See the results here.
What you get
- Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
- Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
- Telegram Chat room and webinar group membership for discussion and realtime trade updates