Oct. 12 – Top Trade Setups For The U.S. Session! - Forex News by FX Leaders

Oct. 12 – Top Trade Setups For The U.S. Session!

Posted Thursday, October 12, 2017 by
Arslan Butt • 1 min read

Traders, we are experiencing a lack of volatility as most of the high impact economic events are coming out during the New York trading session. Let's check out quick trade setups …

 

Nikkei – Just like the U.S. indices, the Japanese stock market is trading in a bullish mode. Therefore, the idea is to stay bullish above $20,925 as it's a crucial level. The stop should be above $20,880 whereas I'm targeting $21,000.

 

S&P 500 // SPX – Since the U.S. index is trading bullish and has a good support at $2,550, taking a buy position above this level seems to be a good idea. The stop should be below $2,545 with a target of the target $2,525.

 

DAX// German 30 – Our forex trading signal on DAX is still active and tossing in profit and loss. We entered a sell below $12,970 with a stop above $13,050 and a target above $12,875. The volatility has remained very thin this week which is why the DAX isn't able to decide its the trend yet. It will be nice to move stops and break-even and close partial positions once DAX shows some profit.

 

Good luck traders, and keep following the FX Leaders Risk Management Strategies to maximize the potential of profitability.

 
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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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