This week: my trading plans and some interesting prop firm updates!
Inside Bobby’s head
Nasdaq
After the inflation figures, buyers couldn’t keep the hype going around the all-time highs.
What now?
Price is finding shelter in a zone where it’s often been accepted over recent months, between 29,000 and 29,800. Buyers have already stepped in there several times.
We’re entering an interesting area to look for longs, zone 1 on the chart, with the idea of catching a resumption of the uptrend in place since July.
So I’ll be watching for buyers to return. If they come back in force, I’ll consider going long.
The aim would be to take profits around the round number of 30,000, or higher in the upper area of acceptance, zone 2 on the chart.
Gold
I’m keeping exactly the same analysis as last week. Why? Because nothing has happened yet to change my scenario.
We’re still in a range after a downtrend.
So, to repeat what I said:
I’ll mainly be watching for a break above $4,260.
If price breaks that level and holds above it, I’ll look for continuation towards its previous areas of acceptance, around $4,400.
The idea would be to look for a long entry at my algorithmic levels, particularly VWAPs, instead of chasing price.
Prop firms
For smaller budgets: wait
This week, I’m not recommending any of the usual promotions.
I simply don’t find the offers tempting enough.
And Black Friday is just over a month away. We may get better opportunities then.
Might as well keep some powder dry.
For bigger budgets: Bulenox
Bulenox is offering 40% off its 50K account with no challenge.
The final price is €261 instead of $488.
It’s an interesting option if you don’t want to go through a challenge and would rather start directly on a simulated account.
My Funded Futures: a new Studio account
My Funded Futures has just released its third Studio account: #003.
Honestly, I think the idea is interesting for people who enjoy trading small accounts and want to request their profits quickly.
- You get $250 of static drawdown.
- You need to make $500 in profit.
- If you succeed, they give you $250 to trade with. You can then withdraw your profits every day.
See you next Tuesday!
These are my personal trading plans, shared for information, not investment advice.