Market Close July 22nd, 2020

Welcome to a Wednesday – Wodin’s Day – edition of this trading exercise.

As both of you know I only interrupt your watching of Game of Thrones or Breaking Bad if a trade has actually taken place.

At the weekend we look at everything.

As mentioned we were waiting for UDN to close above resistance and then the price to pass by that high.

To the chart, Robin…

Dollar Index: UP = UUP, DOWN = UDN

UDN

As you can see from the chart above, the exponential moving averages have done their jobs admirably.

The resistance level has been CLOSED above by a brave little candle at position 1. We set a stop-buy at $20.67 and waited for our trap to be sprung. And sprung it was…here are the details.

$26,000/$20.67 = 1257.86, rounded to 1200 shares

The stop was placed just under support at $20.16.

$20.67 – $20.16 = .51 X 1200 shares = Risk $612 (<$2,800).

God Speed, little trade…

Any comments, questions, regarding the above or trading in general, drop me a line at: charlesgoddard2020@gmail.com.

TTFN,

Charles

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