Trading Plan: Monday 13th May 2019

Mark NugentMay 2019, Trading Plan

Trading Plan: Monday 13th May 2019

Last week was dominated by the faltering US/China trade talks. Equities fell and most currencies reacted in line with the negative sentiment.

This week starts with further drops to global equity pricing. I wonder if it still makes sense to go short or have they fallen too much and we should just wait and take the current lower prices as good entry points for longs? This will require paying attention to what the market tells us.

There is also the interplay between strong currencies (USD, JPY) and weak currencies (AUD, NZD and CAD) to consider, but we need to be aware of low volatility.

My USDTRY was taken out for a profit due to the Turkish central bank artificially boosting the value of the TRY by buying it with their foreign reserves. This cannot last and is already reversing, so I keep my eye on a possible second bite at USDTRY long.

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