US 100 a good Long Setup
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Hello Traders,
I see a good bullish setup on the US100 and here is why:
*Fundamentally, the numbers still show a strong US market. Although the USD is strong especially the CPI and PPI numbers this week but we didn't see a sell off in the US Market.
I think the high inflation numbers gives a push up to the market.
- GDP Growth : (USD: 2.1% / Previous: 2.4%)
- Unemployment: (USD: 3.8% / Previous: 3.5%)
- Inflation: (USD: 3.7% / Previous: 3.2%)
- Interest Rate: (USD: 5.50% / Previous: 5.50%)
*Technically, the price broke up the consolidation triangle after the strong push last month, it made a small pullback which gives a good entry for me.
*Historically, September is a down month for Nasdaq. This keeps me a bit cautious and trade with a smaller lot size than usual.
Trade Safe!
I see a good bullish setup on the US100 and here is why:
*Fundamentally, the numbers still show a strong US market. Although the USD is strong especially the CPI and PPI numbers this week but we didn't see a sell off in the US Market.
I think the high inflation numbers gives a push up to the market.
- GDP Growth : (USD: 2.1% / Previous: 2.4%)
- Unemployment: (USD: 3.8% / Previous: 3.5%)
- Inflation: (USD: 3.7% / Previous: 3.2%)
- Interest Rate: (USD: 5.50% / Previous: 5.50%)
*Technically, the price broke up the consolidation triangle after the strong push last month, it made a small pullback which gives a good entry for me.
*Historically, September is a down month for Nasdaq. This keeps me a bit cautious and trade with a smaller lot size than usual.
Trade Safe!
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The price dropped like a waterfall.it is good that the stop loss was tight with a small lot size.
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