Author: s4k

Possible Future Trades

The New Zealand dollar looks to be setting up a failed head and shoulders pattern. It could also be interpreted as a double top. Depending on price going into closing I may go short today.

KC wheat looks to be setting up a descending triangle. I will be looking to go short with a closing below 790.

The DOW looks to be setting up a rectangle top.

Soybeans is forming an ascending triangle. I want to see a closing above 1550 before going long. This is by far the best-looking pattern of them all.

Chicago wheat could be forming a head and shoulder bottom. I will be looking to go long with a closing above the 810 level. A closing below 717 will invalidate this interpretation.

Positions Going Into Next Week

My stops for the Peso, SHOP and Russell 2K are set to break even point.

STOCKS
Symbol Position Date
Position
Opened		 Price
Position
Opened		 Week
Closing
Price		 Percent
Change
SHOP Long 1/25/23 46.2 52.93 14.57%
Total Open Profit/Loss Stocks 14.57%
FUTURES
Symbol Position Date
Position
Opened		 Price
Position
Opened		 Week
Closing
Price		 Percent
Change
6M Long 1/19/23 0.05215 0.0524 0.44%
RTY Long 1/31/23 1937 1992.4 2.86%
ZM Long 2/2/23 462 470.1 1.75%
Total Open Profit/Loss Futures 5.05%

Long Russell 2K

I am long the small caps with a stop at 1900 and a target of 2080. It can be classified as a reverse ascending triangle or a head and shoulder continuation.

Positions Going Into Weekend

STOCKS
Symbol Position Date
Position
Opened		 Price
Position
Opened		 Week
Closing
Price		 Percent
Change
SHOP Long 1/25/23 46.2 49.78 7.75%
Total Open Profit/Loss Stocks 7.75%
FUTURES
Symbol Position Date
Position
Opened		 Price
Position
Opened		 Week
Closing
Price		 Percent
Change
6M Long 1/19/23 0.05215 0.0529 1.40%
Total Open Profit/Loss Futures 1.40%

Adding to the Watchlist

A few more charts that I have under consideration.
The Russell2K looks to be making a bottom.
In fact, a lot of US stocks show signs of a temporary bottom. Even though I am bearish on US stocks, I trade my plan not my opinion. I will consider a long position on a break out to the upside of 1950.

The Real is about to breakout to the upside. I am waiting for a daily close above 0.2 before considering going long.

Silver is forming a small rectangle. Over the past 2 years my record trading silver has not been very good. It seems that it breaks out, goes back to hit my stops, then goes on to reach its target. I will take a small long position with a close above 25. I will keep this position small with wider stops this time.

My favorite setup has to be the Soybean Meal (July contract). After a breakout, it is forming a rectangle of about 8-12 weeks. I am tempted to actually preemptive go long with a test of the lower boundary. I will be looking to go long with a break above 462.

I rarely go bottom hunting, but Natural Gas is much closer to a bottom than a top. I will monitor for a good spot to go long. I have done extremely well trading natural gas over the past 5 years or so. When a commodity gets closer to zero, the risk/reward setup becomes favorable.