Market overview and macro outlook
1. Tariffs, tariffs, tariffs
- The 104% tariffs response to China's response and possible 25% pharmaceutical tariffs are weighing down the markets
- Markets are expected to keep going down until some news of relief is announced
2. Upcoming news
- FOMC meeting on Wed - probably to the downside as it should be comments on keeping rates high to combat the tariffs uncertainty
- US CPI/Unemployment on Thu - TBD
-- If high CPI - good for equities as it raises probability of interest rates cut
-- If high unemployment - good for equities as it raises probability of interest rates cut
- US Core PPI on Fri - TBD
-- If high PPI - good for equities as it raises probability of interest rates cut
Thus, I have a bearish view of the market and look to take Short positions here.
Technical View
Continuing the downtrend from yesterday
Limit short position at 4910, which is right above a major psychological level. Going for a 1:1 trade.
- SL: 4976 (Above the highs of a pullback in the downtrend)
- TP: 4842 (Slightly above the lows of the previous trading zone)
Execution
1. Limit order
- SL: 4976 (Above the highs of a pullback in the downtrend)
- TP: 4842 (Slightly above the lows of the previous trading zone)
2. Key note:
- To watch out for news on tariffs action by Trump, EU and China. Focus on China, then EU then US as per the timezones for today.
3. TF:
- Will close by Friday if price does not retrace back to entry level by then.
Results of ideas thus far:
Number of trades: 3
WR: 33%
Profit: 1.9R
Notes: This is currently for personal practice to write out trade ideas. Feedback is welcome, and please don't mind if none of this makes sense.
1. Tariffs, tariffs, tariffs
- The 104% tariffs response to China's response and possible 25% pharmaceutical tariffs are weighing down the markets
- Markets are expected to keep going down until some news of relief is announced
2. Upcoming news
- FOMC meeting on Wed - probably to the downside as it should be comments on keeping rates high to combat the tariffs uncertainty
- US CPI/Unemployment on Thu - TBD
-- If high CPI - good for equities as it raises probability of interest rates cut
-- If high unemployment - good for equities as it raises probability of interest rates cut
- US Core PPI on Fri - TBD
-- If high PPI - good for equities as it raises probability of interest rates cut
Thus, I have a bearish view of the market and look to take Short positions here.
Technical View
Continuing the downtrend from yesterday
Limit short position at 4910, which is right above a major psychological level. Going for a 1:1 trade.
- SL: 4976 (Above the highs of a pullback in the downtrend)
- TP: 4842 (Slightly above the lows of the previous trading zone)
Execution
1. Limit order
- SL: 4976 (Above the highs of a pullback in the downtrend)
- TP: 4842 (Slightly above the lows of the previous trading zone)
2. Key note:
- To watch out for news on tariffs action by Trump, EU and China. Focus on China, then EU then US as per the timezones for today.
3. TF:
- Will close by Friday if price does not retrace back to entry level by then.
Results of ideas thus far:
Number of trades: 3
WR: 33%
Profit: 1.9R
Notes: This is currently for personal practice to write out trade ideas. Feedback is welcome, and please don't mind if none of this makes sense.
Trade active
Limit Order enteredTrade closed: stop reached
Results of ideas thus far:Number of trades: 4
WR: 25%
Profit: 0.9R
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.