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Correlation Trade USD/SGD to USD/JPY *We booked a profit of 27 Pips. Even though the spread is from from closing we decided to take the profit and move back into cash. Of course if this spread narrows we will be leaving a lot on the table but we are happy with the gain from a low level risk trade. We will be initiating 1/2 our position in a correlation trade of USD/SGD to USD/JPY. The spread is currently 500 Pips and could potentially get wider, if it does we will then have the opportunity to add to our position, hence reducing our costs. The spread should narrow over time as it has done during the past year. One could wait until the correlation completely narrows to the point that both pairs touch or one could take their profit at any time during the closure of the correlation. Please see the chart for more information.
by unique4x
BP PLC - BP - Daily - Key Hidden Levels are Essential in BP!Look at the remarkable action around the KEY HIDDEN LEVELS in BP over the past 10 months - There have been multiple tests of the key support lines that provided ideal and low risk entries on pull-backs. Subscribe to "Key Hidden Levels" in the "Marketplace Add-Ons" section of "Indicators" . I'm looking to get long against support down here - I will post my entries here on Tradingview. Also, if you are short CVX against purchases in BP, you can create a "market neutral - pairs trade". See the link to CVX below. Tim
NYSE:BP
by timwest
9
Coca-Cola Company KO Daily - Lagging the SPY with low volatilityThere is a big divide here between the performance of the overall market and the performance of KO, Coca-Cola. The way to set up this trade is to go long KO and sell short an equivalent $-amount of SPY shares. Over time, I think that KO will start to outperform the market and this trade will make a profit. If they both go up, we need KO to do better than the market. If they both go down, again, we want to see KO do better and decline less than the market. The profit is in the difference between the performance and not the outright performance of KO. Tim KO 40.96+0.30 (+0.74%) SPY 194.46+0.16 (+0.08%)
NYSE:KOLong
by timwest
6