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Jun 26

Trend Following Update: Exiting Long Sterling

We’d made it clear after we got exit signals for our 3 other currency positions last week that Sterling had just survived but a close below the 1.5380-60 level would be enough to see us exit, and we got that earlier today. We exited at this evening’s open for a loss of $1,712.50 per contract.

Long Sterling ($6B_F) 6/7 -$1,712.50 per contract

It held on for a few more days, but a fourth journey to that support area was too much and it sliced through there today. It also finished near the lows of the session, something it hasn’t done for a while which may be a sign we weren’t alone in using this as our invalidation of our position.

AlphaCapture

It’s possible with these extended moves in currencies we could now be on the verge of getting some signals following that momentum, but for now we go into Thursday SHORT S&PNASDAQ30yr10yr, and Gold.

Our remaining positions are as follows:-

EQUITIES

Short S&P 500 ($ES_F) 6/21 -$612.50 per contract

Short NASDAQ ($NQ_F) 6/21 -$105.00 per contract

BONDS

Short 30yr ($ZB_F) 5/13 +$8,656.25 per contract

Short 10yr ($ZN_F) 5/13 +$4,734.375 per contract

COMMODITIES

Short Gold ($GC_F) 4/5 +$32,140.00 per contract

 

 

 

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