Today is Sunday, August 18th and we are summing up the trading week results.
Profit, $: 10-YR T-NOTES, 4,187;
Loss, $: S&P E-mini, 3,337.
Open positions at the current moment are:
S&P E-mini, short position – 1;
10-YR T-NOTES, long position – 1.
Let’s consider last trading week’s deals in details.
10-YR T-NOTES (closed position)
SetUp for Treasury Bonds was published in the weekly trading plan W31.
When entering the deal, we chose the instrument between 30 and 10-year Treasury bonds.
Due to the risk for the deal in 30 year treasury bonds was too high, we entered the position on 10 year treasury bonds. The risk of the deal suited us. On Thursday, we decided to close part of the position. The early exit was due to the fact that it was necessary to cover the loss from the S&P trade.
The second part of the position we are keeping at the moment. We have 1 lot open. If on Monday the price rewrites the high of Thursday, then according to the three-bar system we will move the stop loss below the low of Wednesday.
Due to the seasonal factor, we see that the price may rise, than go down. The good point to entry the long position would be 08/21. And if there are short-term patterns, than we plan to restore the position and hold it until September.
S&P E-mini (closed position)
Let me remind that we had Setups for NASDAQ and Dow Jones. For our trade we chose S&P, due to it was the weakest at that time.
The first trade was unsuccessful and we fixed loss of $ 3,337. The next day, we again entered the short position on the pattern of the Inside day. Currently we hold the position.
What keeps us in this trade? We hold this position due to the strict adherence of the price to the seasonal factor. Pay attention to how the price moves according to seasonality. Here almost all the peaks coincide.
From Monday we would like to see a good decline. This may give us the opportunity to cover the loss that we had from the first entry into the deal. Next, we plan to look for buy signals.
Palladium (closed position)
SetUp for Palladium was published in the weekly trading plan W30.
We entered the deal in one of the inside day patterns. The position was closed with the small profit of $ 30, because price impulse did not go in our direction. The total profit of palladium on this setup is $ 6,450.
Note that the operators are in the long position. The price may go up by seasonality as well. Next week, we will look for entry points to the long position for 1-2 days. Now there is bullish accumulation. On weekly plans, we will talk in more detail about this short-term trade.
Also let’s look at the CRB index. We see that there is the decline. Next week we plan to pay more attention to short positions in commodities.
This is all about the results of the trading week.
To sum up the trading week:
10-YR T-NOTES Profit $ 4,187
Palladium Profit $ 30
S&P E-mini Loss $ 3,337
Total profit $ 880
Today we will plan for the upcoming week and consider new setups.
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