Current Trades
My last two post were about platinum so I will exclude it here.
I have just entered into the Canadian Dollar trade two days ago and not much has changed for me to comment on.
I would like to see it break through the 0.78 resistance level quickly. This will be a signal that this bottom is valid and the bull run will continue. I will add more longs if a good break out occurs at the 0.78 level.
I have not wrote much about natural gas lately. I am still long this market. For every $1 move, this represents $10K profit. At one point, I was up a large amount of money a few weeks ago.
I have since lost all of it and I am at a break even point. I am waiting on one of those famous spikes natural gas is known for. Overall I consider this more of an investment than a trade.
The Nikkei is quickly going to its 28K target. I have moved stops up to a break even point.
I am not adding any longs to this trade. It is a very leveraged market and I am happy with what I got.
The New Zealand Dollar is still grinding to its target of 0.77. I will probably exit the trade at 0.74 though.
The USD short trade is also approaching its target of 0.90. I have moved my stops up (technically down) to break even. Ultimately, I think it will challenge the 2018 low of 0.88.
Upcoming Trades
The Pound is very close to a major chart completion. I am very tempted to preemptively go long the Pound in anticipation of this break out.
I hope the Swiss Franc pulls back to 1.1130 so I can go long. For now, I will just wait and see.
Thoughts on the past NASDAQ Trade
The NASDAQ trade whipped me out for a small loss and kept going higher.
This is infuriating when it occurs, but this is part of my trading plan. My stops are very tight.