We are currently trading in a very strong bull channel.
My long position was supported today when bounced very sharply from the 1286 level, and the MACD is about to cross. My expectation for the NFP is that they will miss, and we will see 130-150K jobs added in October (which the fed will justify is still enough to raise).
However we are clearly in a bull-trend right now, and we should continue this trend to 1400 in the upcoming months.
My long position was supported today when bounced very sharply from the 1286 level, and the MACD is about to cross. My expectation for the NFP is that they will miss, and we will see 130-150K jobs added in October (which the fed will justify is still enough to raise).
However we are clearly in a bull-trend right now, and we should continue this trend to 1400 in the upcoming months.
Comment:
Still well within the channel.
Order cancelled:
I will be closing this idea, and will post an update after the election.
NFP missed, however due to the fact that the fed has completely backed themselves into a corner here, and the bar is now so low for them to raise that anything over 90K would have been considered a good report.