Nonfarm payroll numbers in the US are due in less than an hour with 268k new jobs expected, writes Ian Murphy of MurphyTrading.com.
Jobs data is getting less attention these days because interest rates on both sides of the Atlantic are grabbing all the attention. So, when the ECB President speaks in a few minutes her words will be closely monitored.
Click charts to enlarge
As discussed in yesterday’s webinar the Daily Help trigger has still not reached T2 (red dashed lines) despite four consecutive positive price bars. I would like to see this target hit in today’s session to offer some comfort to hold the position over the weekend.
Click charts to enlarge
The daily swing trade in Bioventus, Inc. (BVS) is in the same boat. We had two positive days since the trigger, but the stock has failed to reach T1 yet, and in the process has made the decision to carry the trade over the weekend more difficult.
Ideally, T1 at $7.92 will be hit today and the remainder can be carried until next week. If T1 is not hit the case for holding the position is diminished as the risk has increased.
Ultimately this is what trading is all about.
We must make repeated financial decisions where it appears there is never a perfect choice. It’s always a tradeoff where we must pick an option based on our personal tolerance for risk.
Learn more about Ian Murphy at MurphyTrading.com.
