In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we look on as trade war tensions take a turn for the worst.
As a result, we have seen the markets enter a strong risk-off phase with a considerable flight to safety. We can see this in the normal subjects, USDCHF, JPY, Gold and the Indices markets. However, we will narrow our focus to the S&P 500 and Gold.
As we look at the S&P 500, we are looking for a break below yesterday’s daily low of 2820 to capitalise on continuation lower. We see continuation to the upside in the Gold market again above yesterday’s daily high of 1469.77. We must, however, stress that we need price to break these levels in order for us to have the confidence that we are likely to see continuation in these trades.
Trade War Tensions Take a Turn for the Worst – Full Video Analysis
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