US stock markets reverse at the resistance areas

Jason Sen DayTradeIdeas.co.uk

GBPUSD made a low for the day at 1.2810/00 & this should be good support again today.

USDJPY longs are looking at a good profit & the pair is headed in the right direction.

NZDUSD longs at 5900/5890 were stopped.

GBPCAD longs at 1.7720/00 worked on the bounce from 1.7718 hitting 1.7760 & 1.7800 for up to 80 pips profit as we reach 1.7823, not quite as far as the 3rd target of 1.7840 yet.

Shorts in the US stock markets, Emini S&P & Nasdaq worked perfectly as we caught exact high for the day.

Emini S&P hit 2 targets, Nasdaq hit the first target so far with further losses likely today.

Today’s trade ideas:

Emini S&P September futures shorts at the best sell opportunity for the day at 5520/25 worked as prices collapsed from 5534. The low & high for the last session were 5481 - 5534 (To compare the spread to the contract you trade).
Emini Nasdaq September futures shorts at first resistance at 19350/390 worked perfectly with a high for the day exactly here. Last session high & low for the SEPTEMBER futures contract: 18113 - 19377.

Emini SP 500 September futures

Shorts at the best sell opportunity for the day at 5520/25 worked again on Monday. Targets: 5505, 5490 (hit), 5470
Try shorts at the resistance again today. A break above 5535 is a buy signal targeting 5545 & 5560
A break below 5458 is a sell signal targeting 5425 & an excellent buying opportunity at 5410/00. Longs need stops below 5385.

Nasdaq September futures

Emini Nasdaq shorts at first resistance at 19350/390 worked perfectly hitting first target of 19200 as we look for 18950 for profit taking today.
Try shorts again at 19350/390 with stops above 19440.
Just be aware that a break below 19,000 can target strong support at 18830/730. Longs need stops below 18600.

Author

Jason Sen

DayTradeIdeas.co.uk

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