Trading Plan – Monday 21st September 2020: Covid-19 concerns drive down equities

Mark NugentSept 2020, Trading Plan

Trading Plan – Monday 21st September 2020: Covid-19 concerns drive down equities

Morning all.

Doom and gloom stalk the land as fears of a second Covid-19 wave take hold. Sentiment is moderately risk-off as of 1100 BST. The situation is worse in the UK and the Eurozone with equity indices already down by at least the 14-day ATR (average daily move over the last 14 days).

My MP, Graham Brady, was on the radio this morning (and the papers yesterday) calling for some parliamentary oversight on any future lock-down decisions. This is essential. I think PM Johnson has 6 months to get his act together or he’s going to get the knock on the door from Sir Graham, just like Theresa did a while back. We need leadership, not bluster.

GOLD moves back down to support which is the place to be if like me your bias is long.

The JPY is the strongest currency as you would expect from the sentiment. All JPY pairs are falling on the JPY strength (as the JPY is the second currency in all its pairs, JPY strength results in the pair falling).

As always, in the member’s video I focus in more detail on my trading themes for this week.

I’ll be back on Wednesday.

VIP Club members can watch the video HERE