Today is Sunday and we traditionally summarize the last trading week.
Last week was unprofitable. We have losses in soybean meal and Australian dollar. We also have a long position in natural gas.
SOYBEAN MEAL – closed position, loss $3,660
Signal to sell for soybean meal was published in the weekly trading plan W04. This is a short signal in a good uptrend. Due to the high volatility, the trade was closed with a loss of $3,660, while the price didn’t go far and returned to our entry level.
AUSTRALIAN DOLLAR – closed position, loss $10,380
This is a idea from trading plan of week 04. We had signals in the New Zealand dollar as well as the Canadian dollar. However, the Australian dollar was the weakest among commodity currencies at that time.
The position was opened on February 2. We placed our stop loss far enough from the entry level to level out the volatility. However, the price reached our stop loss level and the trade was closed with a loss. Loss is $10,380. While we will stand aside from currencies.
NATURAL GAS – open position
The CRB index is compressed like a spring. Therefore, there are no significant movements in the market right now.
The index is even closer to its seasonal peak. It is important that momentum shows decline. This confirms that serious movements may begin soon.
That’s all about our trading in this week.
Next, we are moving to planning forthcoming trading week 07.
These detailed trading plans are published for members in our Insider Week community. Join us now!
Trade smart, Insider Week team
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