This could become a short trade with a good risk reward ratio. The currency pair is british pound vs greenback (GBPUSD), I think it might pull back to 1.2300 or even lower. It now trades @ 1.2988, I'd go short and place the stop loss @ 1.3150 .
... but is it doable in reality ?
- Thread starter janbillian
- Start date
The palladium long setup I posted on 07-13-20, green circle in the chart (page 8 last post) would have been a winner (4R), but may there be more upside potential, it now trades @ 2,419 US$. I'd move up the profittarget to 2,700 US$. The SL I'd move to 2,150 US$ to lock in a profit.
Natural Gas ("NATURALGAS") - the bullish upward move may be over. I'd move up the stop loss to 2.40 US$.
Currently trades @ 2.607 .
Short interview excerpt with a highly regarded trading coach named Dr Gio Valiante, 04:21 - "The best investors in the world are right only 55% of the time".
Currently trades @ 2.607 .
Short interview excerpt with a highly regarded trading coach named Dr Gio Valiante, 04:21 - "The best investors in the world are right only 55% of the time".
On my native DAX/GER30, often quoted as the leading index for stocks, I'm now a big bear. This chart (timeframe monthly) show the most important lines, big resistance at around 13,550 points - I think we are now in a bear market and won't see new highs for the next two or even three years with the resistance being the sloping line. Currently trades at 12,780 points.
I copy & paste this from my Facebook wall, Apple closed yesterday (09/21/2020) @ around 110 US$ -> "With Apple (AAPL) now showing surprising strength when most share / stock prices are in the red, I think this may be - hold your breath, ladies and gentlemen - the first company ever to reach a market capitalization of 3 BILLION US$. Assuming no splits will take place 'til then, this would mean a stock price of 180 US$, > 60% upside potential. 2024 I think will be the year, maybe even earlier. Currently trades at around 107 US$. To support my line of reasoning, Warren Buffett is of course an ace stock picker, favorite holding period of his is "forever". When he concentrates Berkshire's portfolio into a single stock like he did with Apple beginning in 2016 (> 40% are now invested in Apple), there's a high probability Apple can appreciate 20% or even more a year until 2026 or beyond."
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To dive deeper into my line of thought regarding the future valuation of Apple, it's very simply based on the history of Warren Buffett as the world's #1 stock picker - he's turned 90 and won't be around much longer obviously, but I think if Warren purchases such a huge stake in a company even when it's richly valued on an absolute valuation basis, its share price may well appreciate for 12% annually for years to come. If you compound the Apple share price in 02/2017 with 12% per year, Apple would be valued at around 8 trillion US$ in 2040 ! I've now simply taken a chart (source is tradingview) and drawn a very long term support line that ends at a corresponding share price in 2040 (around 450 US$). Please note that I of course meant 3 TRILLION US$ in the post above, and that a 20% annual gain in the share price is too optimistic.
In Natural Gas, the SL fortunately would not have been triggered - I'd keep the Stop Loss @ 2.40 US$, but move up the profit target to 3.60 from 3.00 US$. The setup was posted on page 12 in this thread . Natural Gas now trades @ around 2.92 US$ . If the new profit target of 3.60 would be reached, it'd be a 9R winner !
Silver & Gold long setups + Bitcoin long setup did not work out, I'd expect the SL to be triggered if not already happened.
The long setup I posted on page 14 of this thread in the fx pair USDCAD has developed well so far. I posted it on september 3rd, when it traded @ 1.3087, it now trades @ 1.34 !
Further trade management ? I'd move the SL to breakeven and move up the profittarget to 1.38.
Silver & Gold long setups + Bitcoin long setup did not work out, I'd expect the SL to be triggered if not already happened.
The long setup I posted on page 14 of this thread in the fx pair USDCAD has developed well so far. I posted it on september 3rd, when it traded @ 1.3087, it now trades @ 1.34 !
Further trade management ? I'd move the SL to breakeven and move up the profittarget to 1.38.
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I'd now initiate a long position (in the last long setup, the stop loss would have been triggered) in Gold, it now trades @ 1,896 US$. The stop loss I would place @ 1,830 US$, price target 2,150 US$ .
From a pure trendfollowing perspective, Lumber is in a clear downward trend. I'd go short, this futures contract (LBS1 on tradingview) now trades @ around 535 with the SL placed at 590 US$, profittarget 410 US$ .
It'll be a must read I'm sure. 11/03/2020 will be date when Volume 5 of the legendary "Market wizards" series hits the market, this time Jack Schwager interviewed largely unknown private traders who don't manage other people's money and have an outstanding track record.
Jack in a recent interview, topics include the selection process for the interview partners ->
Jack in a recent interview, topics include the selection process for the interview partners ->