Possibly..could be time to de-risk...!
I was overal bullish when it comes to equities - However, when things start to look a little over extended it's when I start to take positions off (De-risking) and I start to think of opportunities of - perhaps sell opportunity and where could be the next pull back for me to add a position on.
With trading you can create a lot of opportunities even with just trading very few pairs - You could do the intra-day trade idea. Simply looking at smaller time frames for what your plan my execute you to do - such as looking at MACD/RSI divergence, Fibonacci or certain other tools you may use for further confirmation. (Remember: There is not one set way of trading - and that's what makes it fun!) or scalp on very low time frames. Again - use what you've created on your trade plan.
Technical wise: Looks like to be forming a bear flag - lower support level areas are between: 3086-2963. Resistance areas: 3339-3402.
Fundamental wise: Further stimulus from USA Could be implemented again 5th cheque. (Exp - Monday)
Below that trend-line channel up - bears could be getting in control...!
Just a trade idea, not a recommendation.
Have a great week ahead.
I was overal bullish when it comes to equities - However, when things start to look a little over extended it's when I start to take positions off (De-risking) and I start to think of opportunities of - perhaps sell opportunity and where could be the next pull back for me to add a position on.
With trading you can create a lot of opportunities even with just trading very few pairs - You could do the intra-day trade idea. Simply looking at smaller time frames for what your plan my execute you to do - such as looking at MACD/RSI divergence, Fibonacci or certain other tools you may use for further confirmation. (Remember: There is not one set way of trading - and that's what makes it fun!) or scalp on very low time frames. Again - use what you've created on your trade plan.
Technical wise: Looks like to be forming a bear flag - lower support level areas are between: 3086-2963. Resistance areas: 3339-3402.
Fundamental wise: Further stimulus from USA Could be implemented again 5th cheque. (Exp - Monday)
Below that trend-line channel up - bears could be getting in control...!
Just a trade idea, not a recommendation.
Have a great week ahead.