Today is Saturday, February 9th and we are summing up the 6th trading week.
At the moment, all positions are closed and right now we will analyze all deals of the past week. There were 3 of them.
Canadian dollar. SetUp for this currency was 01/05/19.
For a better understanding of the situation, we compared the Canadian dollar with other commodity currencies (Australian Dollar, Mexican peso, New Zealand dollar). This analysis showed that the strongest is Mexican peso. However, it was already significant and as an alternative we chose New Zealand dollar. We have entered into a long position NZ.
We bought 5 contracts on 31/01.
Since we did not see a strong impulse for NZ, on 05.02 we closed 3 contracts and 7.02. closed all positions on NZ through stop loss. So total loss amounted to $ 800 USD. Currency trade was unsuccessful. We see a wide flat market for NZ. At present there is no understanding of what will happen next with currencies and the US dollar. The current situation may even be a trend reversal.
Gold. SetUp was 11/18/19 (w47). We bought Gold on a correction. By seasonality, we saw that at the end of February (22-25) Gold could turn around and expected that by that time it would come to resistance level 1350. Plans did not materialize and the position closed at a stop loss. The loss amounted to $ 600 USD.
The next tool is Copper. Copper was in the plans 20.01. For copper, we see a good seasonal bullish trend. On Monday, we entered the position with 2 contracts. On Thursday, it was decided to leave market, because On Wednesday and Thursday, we saw two bars that told us that a trend reversal or correction was possible. On Monday-Tuesday, we will closely monitor the Copper and if the price movement on Friday is a correction, we will look for entry points to the position.
Summing up the trading week 06-19:
New Zealander loss $ 810;
Gold loss $ 600;
Copper Profit $ 1725;
In total profit $ 325.
Insider Week team.
Our Trading Performance HERE
Our COT-Trading Service https://insider-week.com/iw-cot-trading/
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