High Probability Levels To Trade NFP- S&P 500 and DJIA
Arslan Butt • 2 min read
The global stock markets fell dramatically a day before NFP, but we were fortunate enough to catch a couple of really good trades on the U.S. & European indices. I hope you guys are excited to trade the Nonfarm payrolls event today. Let me just remind you that this event has the potential to cause extreme market volatility. With this in mind, we shouldn't be surprised to see many instruments entering new trading zones. Therefore we may need to look at new trading levels to optimize our strategies.
Let's take a look at new high probability trading levels for the U.S. stock market indices, which are specifically formulated for this volatile environment. For a detailed understanding of trading levels, refer to our astounding Support and Resistance Levels – Forex Trading Strategy.
S&P 500 (SPX500) – Trading Levels
S1: 2406 R1: 2418
S2: 2398 R2: 2430
S3: 2386 R3: 2438
Key Level: $2418
DJIA (US30) – Trading Levels
S1: 21296 R1: 21491
S2: 21236 R2: 21551
S3: 21139 R3: 21649
Key Level: $21394.30
In Conclusion – The market could burst into sudden volatility as speculators and noise traders might try their luck ahead of the U.S. session. Therefore, it's highly recommended to wait for the NFP report's outcome rather than to enter the market blindly. Good Luck!