2 November 2020 (7:42 am IST)
1 November 2020 (9:12 pm EST)
World stock markets are starting a new day, week, and month form this session. The numbers had started positive all across the board, but at the time of writing, those positive numbers are quickly slipping towards the red line.
We expect global stocks to trade either negative or range bound but negative for the first two days of this week. On the third day (Wednesday, Nov 4), when results of the US presidential elections 2020 will start pouring in on almost at this hour in the Asia session, world stock markets will take a big trend; either up or down. Until then, expect a volatile trading pattern in global markets.
Today, at this hour, all major Asian stock markets are trading positive. SGX Nifty is 38 points up. US stock futures were marginally positive in the start, but now these numbers are turning negative.
How To Day Trade:
- Day traders should be ready for a huge trend later in the week.
- If President Trump win a second term, it will be a positive tsunami in US stock markets, which world stock markets will follow because he is pro business .
- If he loses, it will be negative trend because his opponent, former Vice President Joe Biden is already talking about raising taxes.
- So this week, day traders should trade less in the first two days and keep their trading capital safe for the later days of the week, month and year.
- Today, we are expecting another subdued and volatile session where US stock futures will dominate the global trend.
- For day trading, the best strategy will be to follow the trendline.
- If it goes up, then trade in long trades.
- If the trendline slants downward, then trade in short trades and when price breaks the trendline, exit your trades.
- Keep strict stop loss in all your trades. If markets become too volatile, stop trading for the day.
World stock markets had started this new week with positive numbers. But US stock futures are turning negative so the trend could turn subdued in global markets.