Today is Sunday, April 28th and we are summing up the trading week results.
British Pound, 3,975;
Loss, $: T-bonds, 5,906.25.
Open positions at the current moment are:
British Pound: short position – 2 contracts,
Palladium: long position – 1 contract.
British pound (open position)
Setup for British pound was on week 14th. There was setup to sell. Commercials are selling now. Last time they sold at the beginning of 2018 year (highlighted in blue). After that there were significant movements down.
Our trade was opened on Monday (14 contracts). On Friday, part of the position was closed to cover the loss of T-bonds. Profit was $ 3,975. At present, 2 contracts remain open.
We will keep them on the trend. The stop loss is placed on the 3-bar system. In this case it’s above the high 04/23/19 + 1 tick.
The price has not reached the goal yet, there is a range for price movement. The accumulation is very bearish. If ADX approaches 60, then the trend is likely to end.
Thus, we hold the British Pound to the goal, but if we see a high probability of a reversal, we will close the position.
T-Bonds (closed position)
Setup for T-bonds was on week 15th. There was setup to sell. We were waiting for the price movement down. Our expectations were based on the idea of following the operators. The figure below shows how the price fell after Commercials sold the instrument.
There were big sales in May 2016. They also sold in August 2017. Now they also sell this tool. That is, they are recruiting positions for the trend.
We believe that there is still a possibility of the price moving down. We’ll be watching the bonds next week. We will look for deals with shorter stops also. The loss amounted to $ 5,906
Palladium (open position)
The setup for buy was last week 17th. This is a trend trade. Operators are now buying Palladium. Last time they bought in the middle of 2018. We see that they are buying by the trend.
Based on the risk management, 2 lots were bought; this is 4% of the account. One of them was closed to cover also the loss of T-bonds. Profit from this trade was $ 3,870. Now stop is where we placed it at the opening of the trade. On Monday we will move it. More details about this is in the mailing list for our subscribers.
The palladium’s target price is $ 1,533.5. According to our indicators, we do not see any arguments in favor of the fact that the price will go above the target price.
We’ll be watching the instrument and timely work with this open position.
To sum up the trading week:
Palladium Profit $ 3,870
T-bond Loss $ 5,906.25
British Pound Profit $ 3,975
Total Profit $ 1,939.
Today we will plan for the upcoming week and consider new setups.
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