Today is Saturday, September 08th and we are summing up the trading week results.
Soybean Oil, 3,744.
Open positions at the current moment are:
Dow Jones, long position – 2;
Soybean Oil, short position – 9;
Orange Juice, long position – 4.
Soybeans (closed position)
SetUp for Soybeans was published in the weekly trading plan W28. The price first declined, then stood in flat.
Now the price does not want to go out of range as well. Last week’s deal was already the third and it was unsuccessful minus $4,600. The total profit from the setup is $ 8,200.
That is good. We did not reentry, as we are in the soybean oil, and these instruments are correlated.
Soybean Oil (closed & reentry position)
Soybean oil sell setup was on the 34th week.
Last week, we had the stop loss on soybean oil (- $3,744) and entered the trade again.
Working with risks allows us to entry a deals 3 times without exceeding the total risk on the portfolio. Stop loss is now above the high of Wednesday.
By seasonality, the price may fall until October 4. Momentum makes new lows, there are chances for a further price reduction. The price should go down to the target price.
Dow Jones (open position)
35th week. There was the buy setup for NASDAQ.
We compared the indices and the Dow Jones was the strongest. Now the deal is in breakeven. We have two targets. The first target price is the amount of correction. The second target is September 18th. Most likely we will close the deal to achieve price 1. Let us remind that on Wednesday there will be roll-out to the new contract.
Orange Juice (open position)
This year it was not possible to do trading of orange juice. All summer the price is on the flat.
In the current period, seasonality may be increasing. The deal is open on the first rollback after the impulse. Let’s see how the scenario will be implemented. The target price is 122.9.
The index pushed off support. Next week, commodity markets will be interesting to buy. Next week we plan to trade in softs – sugar, cocoa, coffee, orange juice.
This is all about the results of the trading week.
To sum up the trading week:
Soybeans Loss $ 4,600
Soybean Oil Loss $ 3,744
Total loss $ 8,344
Tomorrow we will plan for the upcoming week and consider new setups.
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