DXU18 – price still sitting the near term moving averages. Watch and wait.
KCU18 – another day of congestion at the 15 day moving average. Price still hasn’t made a new low since July 6th. Nothing to do so far but waiting on the price to fall into one of my familiar structures before taking action.
ZWU18 – another couple of days sitting around the middle of the candle from the previous big move higher on July 25th. Looks like some sort of consolidation before a sizeable move higher and obviously there has been a significant buyer pushing off the 100 day moving average. Again failed to initiate a purchase order when the market was open in the last two sessions and I will look to get long with a stop about three quarters of the way down the midpoint of the large bullish candle. On the September contract that will look like getting long between 526 and 535 with a stop at 520.
SBV18 – at the moment this would seem to be a trend is your friend until the end trade with the price again drifting lower and 10 chili about to push through the previous low from Thursday session.
HGU18 – got stopped out on this one after the price hit the level just above my average price so no loss on the trade and obviously the counter trend was a little bit weaker than I expected. Overall I’m really happy with this combination of finding a good level to get long, it showed me some profit so I added to the initial position and then I moved my stop up to just above my break even so that when the price decided to sail and come back towards the lows then I was out without a loss. Overall this was ‘one good trade’. Do I reverse and get shot ? Not yet I will probably wait until it makes a move below the most recent low
ZSQ18 – the price of soybeans continues to drift up towards the peak of the large up day on the 6th of July before the previous sell off, so without any inclination on Direction at the moment I will just be sitting and watching to see if some formation develops.
ZMZ18 – two sessions in a row the price has attempted to move higher and failed and then another higher open today give me the feeling that if the bulls can’t prevail the next one or two sessions then there could be another sharp sell off. Still on my original one contract I will also probably move my stop up my entry price.