Trading Plan – Monday 11th July 2022: WTI reversal proves profitable

Mark NugentJuly 2022, Trading Plan

Trading Plan – Monday 11th July 2022: WTI reversal proves profitable

Good afternoon.

Last week was quiet. Risk sentiment was indecisive on Monday through Wednesday before becoming more positive on Thursday and Friday. WTI (oil) decided to lose 12 percent of its value on Tuesday and Wednesday for dumb reasons. We were ready to trade the inevitable reversal and made 2.04 percent before exiting just before the Friday night close.

The economic calendar for this week is quite sparse but with a couple of points of interest. We have interest rate decisions from the Bank of Canada and the Reserve bank of New Zealand. US CPI hits on Wednesday. Although not the Fed’s chosen measure of inflation (that’s the Core PCE Price index), CPI can still move the market.

As always, I go through my trading themes for the week in the video.

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