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These are some recent futures trading updates.
I was long sugar earlier in the month, and got stopped out. My timing was a little premature, although an upward move of roughly 1.00 did occur. I then saw an MACD divergence indicating resistance around the 19.60 area (in the July 2013 contract), and so I hesitated to make a long re-entry. I am still fairly bullish for sugar futures, however I am waiting for the right time to make another attempt at extracting some profits.
We've seen a nice tumble in gold prices recently. Prices may very well be in a value range right now, making them ripe for snatching. I am still bullish in gold, on a longer term. I may find myself buying some gold contracts for no earlier than June 2013 delivery. However, as with sugar, I am waiting for the right time.
I am getting the feeling that a good buying opportunity in USDX futures may be just around the corner. I'll be watching this market super closely in the next few weeks looking for a prime entry point.
I've been trading natural gas the last 2 weeks on 60 minute charts. I made one long trade that got stopped out at break-even, and I'm currently short off the highs on Friday for a roughly 0.15 profit. We'll see how Wednesday treats me. I'll be looking to exit that trade very soon, and I will be looking for a long entry that I believe is brewing almost immediately.
If I get the signals for the stronger USDX and natural gas trades I'm looking for in the immediate future, I'll make more detailed posts about trade entries.
To make it clear, the two trades I am foreseeing in the USDX and natural gas are on daily time frames. This makes their scope a longer time frame and larger point-value moves than my more frequent 60 minute chart trades.
posts listed chronologically below