Trading Plan – Monday 17th May 2021: Japan225 poised for another move up

Mark NugentMay 2021, Trading Plan

Trading Plan – Monday 17th May 2021: Japan225 poised for another move up

The week starts with risk-off sentiment as most equity indices give back some of the recovery seen on Thursday and Friday. The Japan225 has given back all of the recovery and sits back at support. This could be another opportunity to go long.

The GBP is going sideways as the Government grapples with the Northern Ireland Protocol for which, of course, there is no palatable solution. Concerns around the Indian Covid variant are also weighing on the GBP.

It’s a light schedule on the economic calendar with the highlight being the FOMC Meeting Minutes on Wednesday, the run-up to which is often quiet.

As always, I go through my trading ideas in the member’s video. There are also brief videos of all closed trades, including the two I exited on Friday night: S&P500 long for +4.40 percent and Japan225 long for +2.27 percent.

Happy trading. I’ll be back on Wednesday.

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