Trading KR, AUD/USD – 05052018

Written by schattenmann

Only 2 trades last week: i closed my KR position with little profit, TGT in the same sector is performing much better. I bought some AUD against USD @ 0,7580. My Forex trades are working well, still in CAD/CHF and the AUD/USD is a hedge for my USD/JPY long, although i belive that AUD is near support area.

Fridays move in the SPY is remarkable (a bullish green bar closing at highs) escorted with a OEX PCR of well below 1 the last week. Smart money does not seem to hedge, the market stays in a trading range of 255-285 area. From seasonality perspective the weakest time in the markets coming now (May-October) but price action will decide. I stick to my long portfolio and willing to buy PG which made a good decline. Although still little overvalued i am willing to buy this stock @ 74 area, time will tell the story.

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