Hello Insiders and Traders,
We have great news and not very.
Good news is that currently we are in 3rd place in the 2019 World Cup Championship of Futures Trading® with a current profitability of 107% and we are approaching to higher level.
Not so good news is that we fixed loss after 7 profitable weeks in a row.
Last week we traded based on our trading map and watch list for trading week W50.
Let’s analyze this week in details.
NATURAL GAS (open position) – small account
According to the last COT report, we see that now the Commercial are moving to the buy zone. Apparently, at the current price level is a zone of serious resistance. There may be a rebound in the near future. However, there is still the range for downward movement on a long time frame based on seasonality. Seasonal downward movement may happen here until February.
We opened our position at trading week 47. We continue to keep the natural gas’s open position. There is inflection point in seasonality on Monday 12/16. Most likely we will take profit tomorrow. Natural Gas is significantly oversold and if we look at the weekly chart, it goes down and rises through a flat movement. Shortly in the near future there will be a rebound and flat. Therefore, we will exit the short position on Natural Gas.
SOYBEAN OIL (closed position)
SetUp to sell for Soybean Oil was formed in the weekly trading plan W47. Globally, there is an uptrend. On the weekly chart, the oil is now significantly overbought. Still a downward movement may start.
Last week, we fixed the loss of $ 23,448 for this position. The position was opened by the pattern of two closures below MA18, as well as by the presence of divergences in price, but at the same time it was opened against the general trend in commodities.
For a while we are standing aside and watching for the soybean oil.
SWISS FRANC (open position)
There is new setup from W50. 10 long contracts were opened. We are keeping the position. If the price shows new peak during next week, stop loss will be moved below 12/06. Now stop loss is placed below Monday 12/02 minus 1 tick. In general we believe that the position will be kept till the end of this year.
To sum up the trading week:
Soybean Oil loss $ 23,448;
Total loss $ 23,448
That’s all we wanted to say in week 50.
Next, we are moving to planning trading week 51.
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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