Today is Sunday, May 19th and we are summing up the trading week results.
Profit, $: Cotton, 10,265;
Japanese Yen, 1,375;
Loss, $: Platinum, 660;
Crude Oil, 7,210.
Open positions at the current moment are:
Natural Gas: long position – 2 contracts;
Platinum: short position – 3 contracts.
Several positions have been closed during the week. Let’s consider deals in details.
Platinum (open positions)
Setup for Platinum was published on week 16th. The price hasn’t immediately decreased, but it starts to move down now. Seasonal trend contributes to the fall in prices. If the price follows seasonality, then platinum’s price will move down during this summer. The instrument global trend is also downward movement. We expect the significant reduction in the price of platinum.
If we look at the trade as a whole, then the total loss is $ 3,530 on currently closed positions. These are two trades with losses of $ 2,870 and $ 660. Now there are 3 contracts opened. Stop of these contracts are moved above the high of 05/15/19.
Cotton (closed position)
SetUp for Cotton was published in the weekly trading plan W17. As we said in the results of last week, this is currently the trade of the year (click). Seasonality contributes to lower cotton prices. Sentiment shows that the instrument has already been resold and can be rolled back. The COT index is in the positive zone now, which also tells us about a possible rollback.
The overall result of the trade in the cotton sell setup is $ 20,265. For more details of deals you can take a look at our statistics, which we show openly (click).
Now we are expecting a correction in cotton price, and if it happens, we will look for points to entry a short position in cotton.
Crude Oil (closed position)
Setup to sell was on week 19th. We expected that after the setup was formed, the price would go down more quickly. Prerequisites for this were in the indicators. There were the positions of Commercials, sentiment and open interest. Now we see that the seasonal factor is stronger and the price moves along it. There is the range where the price can grow. Seasonal opportunity to sell will come only at the end of the next month.
What is about our trade? We sold crude oil twice. Both times the trade was closed by stop loss. Total loss is $ 7,210.
Currently the signal is valid. If there are changes in the structure of price movement, then we plan to entry once again to short position in crude oil.
Japanese Yen (closed position)
We bought Japanese Yen by the trend of Commercials. We see that there will be the price down at the beginning of the next month due to seasonality, and then a good seasonal opportunity will be opened up.
At the moment the position is closed. The total profit from the trade is $ 3,475 ($ 2,100 in W19 and $ 1,375 in W20). As we said in the comments for our subscribers, if we see a rollback, we will buy Japanese Yen.
Natural Gas (open positions)
Setup for Natural Gas was published on week 16th. The natural gas trade is not trend trade. In this regard, the risk of the position is reduced. The blue line indicates two levels where Commercial players have bought. The situation is more like the bounce, but not the trend change. This trade contributes to the seasonal factor.
Stop loss moved at low on Thursday. If there is no impulse momentum on Monday, then we will close the position with a loss.
To sum up the trading week:
Cotton Profit $ 10,265
Japanese Yen $ 1,375
Platinum Loss $ 660
Crude Oil Loss $ 7,210
Total Profit $ 3,770
Today we will plan for the upcoming week and consider new setups.
We trade only with financial instruments which declare earlier in public.
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Trade smart, Insider Week team
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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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