Today is Sunday, January 26th and we are summing up trading week.
I suggest to start with the news about the World Cup Championship of Futures Trading®.
We are in 2nd place in the The Global Cup Derivatives Trading Championship. We haven’t opened any deals for a long time in January. And a position outside the market is also a position. And sometimes it brings impressive results.
Last week we made some profit, and there is also an open position with a potential profit. Let’s analyze in details the last trading week.
Open positions at the end of week are:
Australian dollar, short position – 8.
Firstly, this is our map of COT-Setups for week 03rd.
10-YR T-BONDS (closed position)
This is Setup for 30-YR T-BONDS and it has been formed based on COT-report which was published on 12/30. So we treat it as Setup for W01 trading week. We bought 10-year T-bounds because risk per trade $1,500 covered our risk management. It was more than $3,500 for 30-year T-bounds.
We assumed that in the near future there could be a good upward movement according to some reasons:
1. we saw that Commercial have bought Bonds for the past few months (green highlight);
2. the net positions of Commercial on this correction grew (blue highlight);
3. seasonality has increased until mid-January.
We waited for impulsive movements like a candle at the beginning of January, but the price did not go beyond this candle.
This Thursday we decided to close the position, as the seasonal upward movement ended. February is also a statistically weak month for Bonds. We earned on this trade $468.
AUSTRALIAN DOLLAR (open position)
SetUp to sell for Australian Dollar was formed in the weekly trading plan W03. This is Setup on downward trend. This is a trend trade, which has a large degree of implementation according to our statistics.
We keep the position. Stop loss is moving above height of Monday last week. We will monitor price movement. Current not-fixed profit is $4,320.
To sum up the trading week:
Australian Dollar Profit $468;
Total profit $468
That’s all about our trading in this week.
Next, we are moving to planning trading week 05.
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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