Stop is at 24000 with a target of 35000.
Category: Trades
Short Soybean Oil
I am short with a stop at 58.3 and a target of 49.3.
Bitcoin- Head and Shoulders
Bitcoin is about to complete a head and shoulders bottom. I will be looking to go long with a break above 26K.
Positions and Possible Trades
I only have one position- short wheat.
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
Total Open Profit/Loss Stocks | ||||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
ZW | Short | 3/2/23 | 720 | 683.25 | 5.10% | |
Total Open Profit/Loss Futures | 5.10% |
I have open orders to short Soybean Oil at the 58 mark as of right now. I might move them down to the 57 mark next week.
The Euro appears to be making a head and shoulder top. I will be looking to go short with a break below the 1.05 mark.
It appears the bond markets may have put in a temporary bottom. Higher bond prices (lower interest rates) might be the trend over the next few months.
Soybean Oil
Soybean oil broke down from its head and shoulder pattern. I was busy and did not get a chance to short it. I will be looking to go short on any rally back to the 58 level.
Short The Pound
I took a short position in the Pound with a stop at 1.203 and a target of 1.13.
Positions Going Into Weekend
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
Total Open Profit/Loss Stocks | 0.00% | |||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
ZW | Short | 3/2/23 | 720 | 708.5 | 1.60% | |
Total Open Profit/Loss Futures | 1.60% |
Short Wheat
The grain complex looks very weak. I interpreted the wheat pattern as a rectangle.
My stop is at 735 with a target of 625.
Short the New Zealand Dollar
I am short with a stop at 0.62558 and a target of 0.587. This is my only open position going into the weekend.
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.