Trading results W 47-19

by Michael Chechnev | Nov 24, 2019 | Trading week results

Hi Insiders,

there is the fifth profitable straight week!
The setups and technical entries into deals have been improving every day.
Let’s see how we traded in the week 47.

Profit, $:
Corn, 6,000;
Sugar, 784.

Loss, $:
no loss.

Open positions at the end of week are:
Natural Gas, short position – 1 (small account).

Let’s consider last trading week’s deals in details.

Firstly, this is our map of COT-Setups for week 46th.

Natural Gas (open position)
The setup for sell was formed based on COT data analysis from 11/12. Natural gas was actively bought this week, but currently the price is close to a downward seasonal factor. Look which seasonality worked at the end of last year.

So there is a good chance the price will go down. Fundamental data suggests this. COT index is in sell zone, open interest is down.

On a small account, we entered the trade with a mini-contract QG via a pattern MA18. We are keeping the position.
Let’s see how Monday closes and then we will make a decision. The supply and demand indicator is now bullish. If the picture does not change, then it will be necessary to close the position.

On Pro account, we placed an order to sell the NG contract, but the price did not reach our entry level and the position did not open.
So Monday will be a decisive day. Either we close the position or keep until profit or stop loss.

Corn, + $6,000
Enter to a corn position were via wheat setup. At the time of the decision to open the position in the grain sector Corn was the weakest. It was in W45.

We closed the position 11/22 as announced earlier. Corn is close to the end of the seasonal factor. Although the harvesting has not finished yet we did not change our decision. There is also an impact from a roll-over to a new contract.
Profit from closing the position amounted to $ 6,000. The first trade which was opened based on this setup was last week. There we earned $ 2,475. More detailes

We are waiting for a seasonal increase in Corn price. We will analyze the USDA, WASDE reports and in the case of the formation of a buy setup, we will look for patterns to enter a long position. At the beginning of 2018, we made good profit in Corn. All our trades are here.

Sugar, + $784
Setup to buy was on week 46th.

On the weekly chart, the instrument seems to be flat. There is no strong impulses up.
This week recorded a profit of $784. Last week, the position was also closed at breakeven. On the small account, the position is closed as well.
When the decision was made to close a position, it was based on supply and demand indicators. It is directed downward, and with the fundamental growth that we are looking for it should be bullish.

On Friday there was a move up. If Monday and Tuesday are growth days, and the supply and demand indicator starts to be bullish, then we will look for entry patterns again. A good seasonality up begins December 5th.

CRB Index
Index’s low was broken this week, but the index was re-buyout again. With the high probability next week will be growing. If the height of the current week is rewritten at the beginning of the week, then we will look at patterns for buying.

To sum up the trading week:
Corn Profit $ 6,000
Sugar Profit $ 784
Total profit $ 6,784

We will make all decisions on the setups and strategies for the next week while preparing the W48 trading plan.

These detailed trading plans are published for members in our Insider Week community. Join us now!

Yeah! One more news) We are in 4th place in the 2019 World Cup Championship of Futures Trading® with a current profitability of 85%.

Trade smart, Insider Week team

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