CURRENCIES
September British Pound BPU9
The Pound went up but momentum went down – that’s micro-divergence, but it still counts. Whenever there’s a discrepancy between price and an indicator, the indicator almost always wins.
If September British Pound opens at or above 163.50
SELL 2 September British Pound at 163.40 (stop)(day)
If filled: Exit Stop: 165.95 (stop)(GTC)
Approximate Risk: $1593 per contract
Profit Target: 161.30 (limit)(GTC)
Approximate Profit: $1312 per contract
Degree of Risk: Moderate to HIGH
September Canadian Dollar CDU9
FLAT – we got support, but it’s too big to do anything with.
September EuroFX ECU9
The EC inched just high enough to find our entry order and get us long Wednesday. Leaving exit stops “as is” for Thursday.
CONTINUATION of Long 2 September EuroFX at 142.37 (August 12)
If filled: Exit Stop: 140.89 (stop)(GTC)
Approximate Risk: $1850 per contract
Profit Target: 143.49 (limit)(GTC)
Approximate Profit: $1400 per contract
Degree of Risk: Moderate to HIGH
GRAINS
September Soybean Meal SMU9
I’ll give Soy Meal one more day to come around. If we don’t get a favorable fill on Thursday I’ll pull the trade.
If September Soy Meal opens at or below 3485
BUY 2 September Soy Meal at 3490 (stop)(day)
If filled: Exit Stop: 3355 (stop)(GTC)
Approximate Risk: $1350 per contract
Profit Target: 3555 (limit)(GTC)
Approximate Profit: $650 per contract
Degree of Risk: Moderate to HIGH
SOFTS
September Cocoa CCU9
Cocoa tagged the second contract, but notice how the market rallied? We had the right idea here, but these darn big ranging markets are just too hard to hold on to!
COMPLETION of 1 Long December Cocoa at 2903 (August 10)
Exit Stop: 2823
Approximate Loss: $800 per contract
Profit Target 1 contract: 2949 (August 10)
Approximate Profit: $460 per contract
