Trading Plan – Mon 9 Sept: Positive sentiment boosting equities, commodity FX and GBP

Mark NugentSept 2019, Trading Plan

Trading Plan – Mon 9 Sept: Positive sentiment boosting equities, commodity FX and GBP

Last week was a solid week of reasonable risk sentiment with most days being “neutral/on” or “on”, aided on Thursday with positive noises on the US/China trade war. Global equities rose and GOLD fell back. WTI remained range-bound.

The GBP saw a gain over the week as the markets saw the Brexit shenanigans as being positive for the economy and ignored the three PMI misses. The JPY reflected the risk sentiment by showing weakness. The USD was negatively affected by a poor ISM Manufacturing PMI number and some dovish Fedspeak on Tuesday and a miss on NFP on Friday. The EUR fell without apparent catalyst. The mood buoyed all three commodity currencies, as expected.

I traded the GBPUSD long for a gain of 2.4% and the Japan225 long for a gain of 1.77%.

This week will be all about the sentiment. Will it roll over from last week? If so, there are obvious instruments to be considering in the Trading Plan. I discuss it all in the video.

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