Week in Review - 17th Feb 2024
Trade Recap
Hi, I will keep this brief and straight to the point, as I am working on other reports ahead of the upcoming trading week.
On Friday, I shared my views on the following as the last trade of the week:
Friday: End of Week Trade Dollar, Crude Oil, Yen and Swiss Franc
Hi, would like to share my thoughts at the last trading day of the week and trade opportunities I will be stalking for. The Dollar On the Dollar, we had the Core CPI range that traded into a daily support level and rallying back into the median level of the Core CPI range from November 2023. On the heels of Retail Sales release on Thursday, DXY retraced …
The Dollar didn’t offer significant upside to trade towards the 105.800 level, but it did rally and declined slightly below its opening price. Based on the rally on PPI release I was in on a Long trade on USDJPY, but it was initially a pain in the ass before I committed to it.
USDJPY found it difficult to rally off the 105.156 levels, so I collapsed my initial long trade in London session, but executed on a retest reaction in New York session. I also bought crude Oil after it found support from the Reclaimed Block around the $76.80 level, and gained further conviction on its upside after trading above the $77.32 levels.
Crude Oil found it difficult to trade above the $78.80 to $79 levels, as I suspected it would:
In Summary, here’s the PNL update on the paper trading account:
Cheers,