Trading Plan – Monday 22nd August 2022: US GDP is highlight in quiet week

Mark NugentAug 2022, Trading Plan

Trading Plan – Monday 22nd August 2022: US GDP is highlight in quiet week

Good morning.

Last week saw alternating days of indecisive and risk-on sentiment. Inflation hit 10.1 percent in the UK. The other side of high inflation, faltering GDP, was evident in the US and Japan, with both countries missing expectation.

China added to the gloom with a warning about Covid lockdowns and a worsening property slump.

I placed one trade: WTI long. The trade went against me almost immediately and stayed under water for a couple of days before recovering and allowing me to exit at breakeven.

This week is quiet. The highlight is US Q2 GDP on Thursday.

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

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