Hello Insiders and Traders,
Today is Sunday, December 29nd and we are briefly summing up short trading week.
Swiss Franc, 5,125.
Open positions at the end of week are:
Cocoa, short position – 8.
Let’s analyze last trading week’s deals in details.
Firstly, this is our map of COT-Setups for week 52nd.
SWISS FRANC (open position)
SetUp to sell for Swiss Franc was formed in the weekly trading plan W50. There was divergence in the momentum. Price increase supported by seasonality. Entry to the position was via pattern MA18. We traded 10 contracts.
Position has been closed manually because we wanted to avoid high volatility during the holidays. We earned $5,125.
COCOA (open position)
Setup for sell was on week 48th.
If we look at the available COT data, when the price drops, the COT index does not move up and discharge after the drop. We are sure that after the publication of COT data, the picture wouldn’t fundamentally change. We think that cocoa has a chance to move down.
According to the supply and demand indicator, there is divergence and the indicator is pointing down. There are a lot of factors to continue moving down. This is a seasonal drop, a rebound from MA18. The accumulation and distribution is also bearish.
There are high chances that the downward movement may continue.
For our open position, we move a part of the position to breakeven. Stop loss of a second part of position is moving above friday high + 1 tick. In a bad scenario, there will be a small loss.
The index is growing, making new highs. The long position is the most profitable in the commodity market in our opinion.
To sum up the trading week:
Swiss Franc profit $5,125;
Total profit $5,125
That’s all about our trading in this week.
Happy New Year!
Trade smart, Insider Week team
Our Trading Performance HERE
Our COT-Trading Service https://insider-week.com/iw-cot-trading/
Risk Disclosure: Trading in futures, forex and CFD's involves a high degree of risk and is not suitable for every investor. An investor may possibly lose more than the capital deposited. Only risk capital should be used for trading, or parts of risk capital. Risk capital is money, the loss of which does not change the financial situation or does not affect life. Performance achieved in the past is not a guarantee of future profits.
Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. The account results presented may vary significantly in gains and losses. One of the limitations of hypothetical results is that they are generated by known historical data. In addition, hypothetical trading does not involve financial risk - no hypothetical track record can represent the financial risks of actual trading. For example, there is a possibility that trading will be suspended or cancelled if losses are incurred, this can greatly change the actual results. Furthermore, there are numerous other factors that cannot be fully accounted for in hypothetical performance when implementing a trading program, and thus can affect actual results.
Testimonials appearing on this website are not representative of other clients and are not a guarantee of future performance or success.