Hello Dynamic Trader,
We have a day away from the markets as the UK and US are closed so expect low liquidity on FX today.
We continue to wait for the S&P to show its hand. Right now it is staying very close to the DVI so we have to apply patience.
We have a few new stocks on our list for the week ahead. This will be dependent on the market but we need to be prepared for all outcomes.
- Price breaks out of DVI
- Price stays in consolidation
- Retest of 2020 low
- Break beyond 2020 low
We trade what we see, not what we think or feel.
I mentioned before that I thought the market will come and do a re-test of March 2020 lows and I also said we can all discard what I feel.
Our objective is to trade price and regardless of what my feelings are or were, I have been long this market because price has indicated it is bullish.
Outcome number 1 looks to be the most probable but we need price to break past the DVI first.
Don’t try to predict what will happen, be prepared for what does happen.
Lets go trade!