Category: Trades

Nasdaq appears to have broken the H&S top formation. A close above the right shoulder at 6870 would be bullish, and indicate it will challenge its all time high.

The Russel 2000 appears to be making a large symmetrical triangle. These are continuation patterns. I will probably not take this trade since I am not a fan of symmetrical triangles.

A  couple of weeks ago I commented on the pounds potential cup and handle. It never completed the pattern. It hit resistance and made a 180. Now it looks set to complete a double top.

Went short at 1.3638. Stop is placed at 1.38. Target is 1.32

The New Zealand Dollar has completed its pattern. Following the break down as discussed here, it has reached its target.

My only regret with this trade was I missed the initial break down. Other things in life made me miss a few ticks in profit.

Platinum has been in a broad trading range since late 2016. I will be looking to take a trade if it breaks out in either direction.

From a fundamental perspective, I believe it will bounce off the bottom of the rectangle.
Sugar has long term support at 10 cents. I will be looking to go long as it approaches 10 cents. Although this would be a violation of plan since it has not formed any pattern, I think sugar at 10 cents is absurdly cheap. I will not be able to resist.

The New Zealand Dollar has broken down from its support as discussed here. Stop is at .72. Target is .70.

Natural Gas position has been closed at a profit.
The Japanese Yen position has been closed. The trade failed to materialize.

The New Zealand dollar is very close to breaking major support. I will be looking to trade this if it breaks down. I will also take the trade on the long side if it breaks resistance at .74 on the upside. Just waiting for a break in either direction.

Lean hogs are still completing the multi year H&S bottom. I will take the trade when it clearly breaks 88 on the weekly chart.

Although from a fundamental perspective I believe stocks are going higher, I do not let it impact my trading plan in the futures market.
Presented below is a possible H&S top forming in the Nasdaq.

H&S tops and bottoms are one of the most reliable trades in my experience. Even more reliable is the failed H&S pattern. A failed H&S top would be if the Nasdaq touches the 6400 level and turns back from it and takes out the right shoulder. Failed H&S tops and bottoms are the most profitable trades.