Today is Sunday and we traditionally summarize the last trading week and prepare our plan for the forthcoming trading week.
This week has been rather boring in our trading. We did not close trades and we have only one open position at the end of the week.
Let me remind that during the week we work only with those instruments that we chose on Sunday through a detailed analysis. This allows you to maintain focus and emotionally avoid entering those trades for which fundamental analysis has not been performed.
Now let’s take a look at last week’s deal.
As I mentioned above, we have only one open position at the moment. Sugar position is opened on pro and small accounts.
SUGAR – open position
The short position in sugar was opened on December 14th. The position was opened based on a signal from week 49.
There was a correction in the outgoing week, but the price did not reach level of our stop loss. There was a reversal day on Friday. This is a good sign that the downward movement will continue.
If Friday’s low is overwritten on next Monday, we will move our stop loss under Friday’s high.
On the weekly chart, we see that the COT index is not discharged, and the weekly price bars are descending. Most likely, the downward movement will continue.
That’s all about our trading in this week.
Next, we are moving to planning forthcoming trading week 52.
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Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. The account results presented may vary significantly in gains and losses. One of the limitations of hypothetical results is that they are generated by known historical data. In addition, hypothetical trading does not involve financial risk - no hypothetical track record can represent the financial risks of actual trading. For example, there is a possibility that trading will be suspended or cancelled if losses are incurred, this can greatly change the actual results. Furthermore, there are numerous other factors that cannot be fully accounted for in hypothetical performance when implementing a trading program, and thus can affect actual results.
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