Trading results W 48-19

by Michael Chechnev | Dec 1, 2019 | Trading week results

Hello Insiders.

Today is Sunday, December 01st and we are summing up the trading week results.

I would like to start summing up the week results with two things.

First of all there is news from the 2019 World Cup Championship of Futures Trading®. Last week we improved the numbers for profitability, but so far we remain in 4th place of the championship. Our colleagues also did a good job. At the moment, the profitability in the championship is 103%.

Secondly, due to Thanksgiving Day in USA CFTC rescheduled the publication of COT reports from Friday to Monday (12/02). So our COT map and setups for W49 will be updated 12/03.

Let’s see how we traded in the week 48.

Open positions at the end of week are:
Mexican Peso, short position – 38 (PRO account);
Mexican Peso, short position – 1 (small account);
Natural Gas, short position – 1 (small account).

This is our map of COT-Setups for week 47th.

Natural Gas (open position) – small account

SetUp to sell for Natural Gas was formed in the weekly trading plan W47. Everyone who is interested in Natural Gas knows that last week was very volatile. On Friday, the fall was more than 8%. The price is on a seasonal trend.

We managed to enter the position only on a small account. The enter was via the pattern MA18. 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.

We plan to keep the position until the December 16th. First target price 2.395 has been achieved. The target price 2 is 1.8 or 12/16. We see that the supply and demand indicator is very bearish now. There is a chance that our second target will be achieved.

Mexican Peso (open position)

Setup for sell was on week 47th as well. 38 contracts were sold on the PRO account. On Friday, the market opened with a gap up, but at the end of the day, the price returned. We plan to keep the position until the end of the year. Here we will need to roll-out to a new contract. The market itself will tell us about further strategies in Mexican Peso.

On our small account everything is similar. We are keeping the position.

CRB Index
The downward movement continues along the CRB index. Low has not been rewritten yet, but in our opinion it is a matter of time. On trading week 49, we are more likely to look for opportunities to sell commodities than to buy.

To sum up the trading week:
no closed positions.

That is all about our deals last week. We had some orders but positions have not opened still.

Today we will make decisions for Monday and Tursday based on current Watch List. After COT report is published we will update our the W49 trading plan.

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

Trade smart, Insider Week team

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