Trading Plan – Monday 12th February 2024: Lots of trigger points this week

Mark NugentFebruary 2024, Trading Plan

Trading Plan – Monday 12th February 2024: Lots of trigger points this week

Good afternoon.

This week looks a lot more interesting than last week.

We have US CPI on Tuesday. The expectation is for a further move below the prior month’s figure and towards the Fed’s mandate of 2%. The market will be very sensitive to the result.

UK CPI follows on Wednesday. Again, the market will be sensitive to this number, especially as the UK is the laggard amongst the larger economies in slaying the inflation monster.

Retail Sales in the US on Thursday is the second key US data point of the week, acting as it does as an early-warning signal for inflation.

I decided to keep my EURUSD short open over the weekend. It is well underwater, and I am prepared to risk the full 2% of my capital to give the trade the chance to move down, as the trending EUR would suggest it should.

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

I’ll be back tomorrow.

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