The US opened much lower last night with the index futures hitting their ‘limit down’ levels for the first time in a number of years. Prices managed to reverse off those limits but being a Friday after a large negative week it may have been some short covering ahead of the weekend. None of our targets were met on our 5 shorts but some came close. Perhaps another day or two of weakness will see some hit home. HUN is extremely resilient to downside moves so we’ll be taking defensive action there.
The account is now +7.9% in 24 calendar days basis 0.5% risk per trade. This represents gains of 15.8R meaning we can place another 15 losing trades and still be at a breakeven position. Here is how the account stood as at Fridays close:
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