Trading Plan – Monday 6th December 2021: The week kicks off positively

Mark NugentDec 2021, Trading Plan

Trading Plan – Monday 6th December 2021: The week kicks off positively

Good morning.

Last week saw a very hawkish Fed, with Chair Powell cancelling the word “transitory” as applied to inflation. This led to increased expectations of interest rate hikes and a faster tapering of stimulus. In fact, he said this twice last week, each time pushing equities lower.

On Thursday we had the OPEC reaction to the recent release of strategic oil stocks by the US government and others. They decided to do nothing but stated they are ready to make an intervention if required and this was widely seen as putting a floor (support) beneath oil prices.

I placed 3 trades on each of Japan225 and WTI, both long. The strong and changeable sentiment worked against me. On Japan225, I had two breakeven trades and one loser. On WTI, I had three breakeven trades. Frustrating. Brief videos of all six trades are available in the member’s area.

This week sees a relatively sparse calendar but does contain some goodies: two GDP reports, two inflation reports and two central bank rate and statement events.

Sentiment is positive as the week begins.

As always, we go over our trading themes for the week in the member’s video.

Happy trading.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE