New Week, Oil Rising
The new week started with oil trading over $100 a barrel and this will be a short trading week due to Good Friday.
Starting the Week
Friday closed down with escalating news and uncertainty over the continued war with Iran. I wasn’t sure what to expect when the market opened. Over the weekend I made some small trades with ETHUSD for small gains. I also made small profits today with forex pairs on both prop firm accounts. None of the trades were significant — I’m up 0.44% today. But, it’s good to practice the two strategies I’ve been working on.
Oil Climbing
Oil prices keep climbing with each barrel trading over $100 today. This will continue to impact the broader market and currencies throughout the week. Federal Reserve Chairman Powell spoke this morning and the central bank isn’t going to take any action at the moment. The Iran war continues, shipping lanes out of the Persian Gulf are still blocked, and there’s continued uncertainty over the long-term impacts.
Short Week
Trading will be a day short this week due to Good Friday. In recent weeks, the market has been up at the beginning of the week and down before the weekend. I’m prepared for the volatility and will continue to keep my position sizes small. The goal is to stay within the challenge rules and make steady gains.