The Russell 2K broke out of its rectangle to the upside. I am long with a stop at 2070 and a target of 2305.
Category: Trades
Stopped Out
I was stopped out of lean hogs, the New Zealand Dollar and DE for small profits.
The Top is in for Wheat
Chicago and KC wheat appear to be putting in a top. I will most likely short Chicago wheat if it breaks down. These are classic topping patterns.
Most notable was lumber last year.
Long Bitcoin
Bitcoin completed an ascending triangle. I am long with a stop at 45570 and a target of 56570.
Positions Going Into Weekend
All of my stops are moved to a breakeven point.
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
CINF | Long | 3/18/22 | 130 | 136.51 | 4.8% | |
DE | Long | 3/18/22 | 413.5 | 433.77 | 4.7% | |
Total Open Profit/Loss Stocks | 9.4% | |||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
6L | Long | 3/21/22 | 0.2 | 0.2081 | 4.05% | |
6N | Long | 3/21/22 | 0.6873 | 0.6952 | 1.16% | |
HE | Long | 3/24/22 | 121.7 | 125.5 | 3.12% | |
ZN | Short | 3/9/22 | 126.56 | 121.69 | 3.85% | |
Total Open Profit/Loss Futures | 12.2% |
Ascending and Descending Triangles
All State displayed both the descending and ascending triangle completion over the past year.
Canadian Dollar Breaking Out
The Canadian Dollar is breaking out to the upside from its descending triangle. In generally, I do not like to trade these types of patterns.
I have buy limits at 0.79655. I will see how it acts next week to decided if I will pull these orders.
Update: I pulled my orders Monday morning.
10-Year Patter Completes
The 10-Year completed its second target. I took some more profits. I still have a very small short position open.
Long Lean Hogs
I am long with a stop at 120 and a target of 131.5.
Natural Gas- Ascending Triangle
I have buy limits at the 5.1 level in the May contract. My stop will be at 4.9 with a target of 6.
I may leave these orders working until the end of the week. If it has a big up day tomorrow, I will most likely cancel the orders. Lets see if I get a downside wick that fills my orders.
Update: Natural gas shot up today. I have no interest in chasing this market. I canceled my open buy orders.