Jezek5's FX Trading Journal.

[jezek5]

Hi,
Been trading on and off for some time,i have kept private journals before
but wanted to do this in public and see how it goes.
Last year was my year from hell so i changed some things over Xmas and
since things have been ok, risk is such an imporant thing for me,you will
never ever find me with a trade without a stop loss.
I trade price action,supply and demand levels and a few fibs.
I use weekly and daily charts to plan my intraday trading and then
trade off a 1 hr chart,normally dropping down to a 15 min for entry.
Enough chat lets look at some charts.

 

[jezek5]

Ok,first chart,the DX.Most pairs i trade has the $ in them so i watch it closely.
I've been bearish the $ for sometime and nothing on this chart will make me change my mind.Price has closed right at the low for the week,not a great sign.
I've been watching it try to get above 76.95,i feel that the rejection of that level opens
the way for a move much lower.Price is at 75.55,i would expet price to hold below 76.15
on daily closes to get a move going down to test 74.40 and perhaps 71.60.
Closes above 76.95 would mean i'm wrong and need to reassess things.

 

[jezek5]

The Swissy.top to bottom range is pretty clear. 9225 is the top,the old
bottom of the last range,i would almost certainly be a seller if we got up near there.
8925 is the bottom and as you can see we have a fib expansion at 9009 therefor 9000
is a place i would be watching PA closely for it to continue down or a bit of a rally.
With everything going on this weekend i'm pretty sure i will be just watching on Monday
but you never know,not sure of a direction yet.

 

[jezek5]

Aussie Daily

Testing times,clearly 1.000 is the pivot that needs
to be watched,a push up though this level and
its back up to good old 1.0150.
If we stall out here i'm not sure,would need to see
what kind of PA we are getting.
Just playing a large inside bar at present.
It would be good for the 9920 level to hold on
the hourly,i might be a buyer if that happens.
But with everything going on in the world this
weekend who knows what Monday will bring us.

 

[jezek5]

Swissy 1 hr range

So the range i'll be looking to play is 9080 at the top,i would be looking
for PA to short there,if we break out to the top side i would be looking
for a test of 9225,but thats a bit away at present. 8990 looks like being the break out level to the down side,
if that doesn't hold i would expect 8925 to be tested and i'll see from there.
Lets just see where we are in the morning.

 

[jezek5]

1 hr Fiber & Swissy

Not much to get my teeth into thismorning.
Looking to but Fiber around 1.4140ish.
And sell Swissy around .9090.
Aussie has been the star so far.

 

[jezek5]

Fiber

Some proper direction would be nice,got long Fiber at 55,
bit more than i wanted to pay but i feel we ought to tag 4200
before we pull back a bit,we seem to be stuck at 66,not sure i like
this trade much,stop at BE might bail soon.
Ok i've closed at 75 for 20 pips, just don't like it.

 

[jezek5]

Re: Fiber

Some proper direction would be nice,got long Fiber at 55,
bit more than i wanted to pay but i feel we ought to tag 4200
before we pull back a bit,we seem to be stuck at 66,not sure i like
this trade much,stop at BE might bail soon.
Ok i've closed at 75 for 20 pips, just don't like it.

Ok,nice little shake down there,bought again at 42,
close to what i was looking for first time.

Stop to plus 10,looking to break 4200,
will close around there.

Closed at 92,something doesn't feel right.
40 pips.

 

[jezek5]

Another Aussie Daily

I was using this chart until it broke,the yellow lines are highers and lowers.
The daily close of the next day or two should give me more conformation
as to where we go next.

 

[jezek5]

Aussie day 22/03/11

Aussie is at a very important level.
1.0070 to 1.0080 should be tough resistance,
if we clear this level its right back up to 1.0150.

 

[jezek5]

Fiber trades,yesterday & some thoughts.

Just to complete yesterdays trades.
Green arrows where both trades taken.
thought about scaling out of the second trade
and letting some of it still run but the offers at
4200 felt really strong and i was a little unsure we
would get through.The silly thing is i have a short
term target of 4300 but felt it was so obvious that
the market would try to shake us out before getting
there,as in a stronger pull back towards 4100.
Aussie & Kiwi look unstoppable,i'm hoping to get a pull back
on the hourly to get long.
The Swissy looks like its just starting to rollover,could be a short
coming up soon.
DX has slowed its fall a bit but looks bad. a nice little bounce in
it would be good to get into some short $ positions.
Still looking for 74.40.

 

[jezek5]

Swissy 1 hr

9032,Swissy looks weak,looking to short around here.
Target 8930.
Need to clear 9009 to get going.

 

[jezek5]

Kiwi,Day & 1 hr

If we clear 7430 we should test 7515,looking
for a pullback to get long.
Missed a great entry at 7355 overnight.

 

[jezek5]

Swissy 1 hr

Tested the top now lets move down.

Rising yellow trend line needs to be broken.

 

[jezek5]

Re: Swissy 1 hr

9032,Swissy looks weak,looking to short around here.
Target 8930.
Need to clear 9009 to get going.

Missed the short,now waiting to see
if we retest the 9009 breakout from below
and see then.

 

[jezek5]

Re: Swissy 1 hr

Missed the short,now waiting to see
if we retest the 9009 breakout from below
and see then.

Ok,that went a bit higher than i expected, got some resistance at 9090 so
would think i'd be a seller around 9100ish, i feel that this might have only been short covering , we will see,very strange markets today,dollar up ,oil up,stocks up.

 

[jezek5]

Dx 1 hr

The DX run might stall right here.

 

[wackypete2]

HI,
Just popped in to check out your journal

Peter

 

[jezek5]

HI,
Just popped in to check out your journal

Peter

Hey Pete,thanks for stopping by,chat again.
Cheers.

 

[jezek5]

Re: Aussie day 22/03/11

Aussie is at a very important level.
1.0070 to 1.0080 should be tough resistance,
if we clear this level its right back up to 1.0150.

Target hit,only problem is i wasn't in the trade.