Trading the trend: long Nasdaq 100
Since the recent decline in the Nasdaq 100 looks corrective, we'd like to use it as an opportunity to go long with a stop loss - on a daily chart closing basis only - below Tuesday’s low and an upside target in new record highs.
(AI Video Summary)
Previous New York cotton futures, USD/JPY and CAD trading outcomes
In this week's "Trading the trend" video, Axel Rudolph talks about his recent trades and what he might do in the future. He started by buying New York cotton futures at the end of January and made a big profit. He had a goal of reaching 90 and only planned to sell if it dropped below the previous day's low, which happened on Friday.
Next, he mentiones buying USD/JPY at around ¥147.90 and saw it go up to around ¥150.00. However, he thinks it might be a good idea to get out of this trade now. This is because the Japanese finance minister said something that might affect the value of the Japanese yen, and there might be some changes coming from the US dollar.
He also talked about a trade he made on 14 February, buying Canadian dollar. It's not doing very well right now, but he suggests moving the stop loss level to just below a certain line to protect himself from losing too much money.
This week's trading opportunity
For this week, he suggests buying the NASDAQ 100 before NVIDIA releases its earnings. The NASDAQ share price went down and then back up in a pattern, which could mean it will go up again. He suggests buying and setting a stop loss based on the closing price each day, because he expects some changes from the FOMC.
It's important to remember that trading can be unpredictable and it's a good idea to do some research before making any decisions.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
