SHORT NWS $9.39
Markets have been rallying the last few days as the drop in the US$ has lifted commodity prices and stocks. I have not traded the last few days and I am still holding my short positions, which are slightly in the red right now, however I still believe we are more likely to trend lower or sideways in the next weeks. Some decent earnings have been coming in, such as Goldman Sachs beating estimates, which has temporarily lifted the financials. I am seeing a lot more short setups than long setups, so that tells me that we more likely to go lower after this small rally.
My short USD/CAD has been doing well. I mentioned to short the USD$ based on the technical reversal patterns I was seeing and the last two days, the US$ has been hit hard, down over 3%.
I am keeping a close eye on my shorts should this rally continue, I may scale out or cover some positions in the next day. My view is this market will trend lower though.
Markets have been rallying the last few days as the drop in the US$ has lifted commodity prices and stocks. I have not traded the last few days and I am still holding my short positions, which are slightly in the red right now, however I still believe we are more likely to trend lower or sideways in the next weeks. Some decent earnings have been coming in, such as Goldman Sachs beating estimates, which has temporarily lifted the financials. I am seeing a lot more short setups than long setups, so that tells me that we more likely to go lower after this small rally.
My short USD/CAD has been doing well. I mentioned to short the USD$ based on the technical reversal patterns I was seeing and the last two days, the US$ has been hit hard, down over 3%.
I am keeping a close eye on my shorts should this rally continue, I may scale out or cover some positions in the next day. My view is this market will trend lower though.
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