Today is Sunday and we traditionally summarize the last trading week.
Due to our Holliday, it will be short report.
SUGAR (closed position), profit $9,228
SetUp to sell for Sugar was published in the weekly trading plan W36. The trade was opened on September, 02.
There was a small red reversal candlestick this week. The COT index is not discharged yet. And this leaves the chances for further downside. There are several things that confuse in sugar.
1. Seasonal trend. Now it is heading up.
2. Rollover to contract. The new contract may behave differently.
We think that there will be either a short term flat movement and the price will go down or there will be a reversal.
On the current contract, accumulation is bearish, momentum is bearish. We take our time and watch the sugar.
Now about the closed position. A part of the sugar position was closed manually almost at the low. Profit was $6,092.
The second part of the position was closed by stop loss and the profit was $3,136.
Total profit $9,228.
We earned $750 on a small account as well.
That’s all about our trading in this week.
Next, we are moving to planning forthcoming trading week 38.
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