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.