My trading journal - plus wave counting bits (old Trumps surprise visit to N.Korea)

[ssam]

Happy Sunday all...

Its that time of the week I sit down in my living room and analyse the charts for the coming 5 days - usually focusing on the main forex pairs.

This morning we woke to news of trumps surprise visit to N.K, I have set my pendings as I am expecting this to provoke a gap up on the USDGBP and set the tone for a bullish weeks for the dollar against all currency pairs.

What are your views? apologies if this is in the wrong place to post!

Regards,
Sam

 

[fibo_trader]

>>>>>> set the tone for a bullish weeks for the dollar against all currency pairs <<<<<<<

Your Excellency, the dollar has been having bullish weeks since Feb 2018 - nobody knew he would go to NK

 

[ssam]

>>>>>> set the tone for a bullish weeks for the dollar against all currency pairs <<<<<<<

Your Excellency, the dollar has been having bullish weeks since Feb 2018 - nobody knew he would go to NK

Thanks.... if you read my post squire, it was for the preceding 5 days.

 

[fibo_trader]

Thanks.... if you read my post squire, it was for the preceding 5 days.

Excellent point Your Munificence you did say 5 days. So I took a look at the Dollar Index and noticed that for 5 days it has been under the 200-day ema = bearish ............... so if the dollar goes up big time will it be because of Trump/Kim or because of the elastic bounce from the 200 and the 23.6% Fib support level?

See extreme right of chart - bounce due to Trump/Kim or due to the combo twin towers 200-day elasticity + 23.6% Fib support?

 

[fibo_trader]

Magnificent one, since you threw "weekly" into the mix, I thought I'd better review the weekly Dollar index chart too. I did. It does not look good, trendlines crashing left and right, RSI busted, Fibo resistance hit.

If Trump/Kim historic meeting can totally trash this short-term trend reversal and cause the dollar to just continue north for a few weeks I'll be really impressed.

It might be true, the historic meeting of the 2 Messiahs. In fact unbeknownst to the Media, its quite like Donald (given how Kim has beaten him at his own game of intimidation) to ask Kim, "was it your coming that was foretold or are we to expect another?"

 

[Pat494]

At least Trump has some dialogue with Kim. Not that I approve the blatant blackmail by NK. Give us money etc. or we go on testing
nuclear bombs. Oh the woes of being rich and arrogant !

 

[NVP]

he needed to pick up some NK souvenirs for his buddies in DC.......went to the main supplier in the DMZ

 

[fibo_trader]

Blatant blackmail by NK? Once NK has the mother lode it becomes a free bird, nobody can mess with her no more. High marks to Kim for recognizing this clearer than any other threatened leader. Iran leaders do get it to some extent but Kim surpasses them all. Trump the CLOSER got closed on hissself. All this handshaking and going to the DMZ is good for both - Trump can say he is 1st ever pres. to visit and Kim chuckles to hissself that he got the KING to kneel before him.

Game to Kim. ............ on the standard unwritten Law that Trump follows 100% .............. One closes the deal or one gets closed upon.

Kim is now 300% stronger than when first threatened by Trump.

 

[postman]

At least Trump has some dialogue with Kim. Not that I approve the blatant blackmail by NK. Give us money etc. or we go on testing
nuclear bombs. Oh the woes of being rich and arrogant !

It's even worse for me I'm poor and arrogant.

 

[fibo_trader]

Oh, Oh, Oh, how inconsiderate of me to not mention Uncle Kim's immovable posture on nukes that hardly anybody in the WEST has placed it as coterminous with America's WORD in Kim's mind

You see, Uncle Kim has seen how the DEAL with Iran was broken willy nilly. Trump broke America's WORD. Even Europe found this distasteful. Kimmy would kick hissself in the ass if he relied on such a low quality of WORD

A Man's Word: Ain't nothing more sacred. You got your Word, you got it all, the money, if there is just sugar-free icing. Sons of bitches will come to you for your money, stick to you like glue, but when its gone, they're gone too. Not the fellas who came to you because you're a Man of your Word - there can be no betrayal here, its too sacred.

Trumpster broke this. He lost my respect. You cannot rationalize that you gave your word to a dictator therefore its OK to cheat. WORD does not play guttersnipe games. Its pure. The power of the Higher Consciousness resides therein. Break it and consequences are dire even into the afterlife.

 

[ssam]

Thank you dear Viscount Fibo_trader.

Your analysis is much appreciated. My question was testing the shorter term fundamentals, not so much to technicals. Given price at the time of writing my Sunday evening post had yet to reflect the trip to N.Korea. So was interested to get the forums view on whether this would set a bullish trend or bearish trend.

I backed myself on this trade which was triggered last night, which went in my favour. I appreciate that the chart may look cluttered, but comments and constructive criticism welcome.

Regards,
Sam

Magnificent one, since you threw "weekly" into the mix, I thought I'd better review the weekly Dollar index chart too. I did. It does not look good, trendlines crashing left and right, RSI busted, Fibo resistance hit.

If Trump/Kim historic meeting can totally trash this short-term trend reversal and cause the dollar to just continue north for a few weeks I'll be really impressed.

It might be true, the historic meeting of the 2 Messiahs. In fact unbeknownst to the Media, its quite like Donald (given how Kim has beaten him at his own game of intimidation) to ask Kim, "was it your coming that was foretold or are we to expect another?"

View attachment 264333

 

[fibo_trader]

Thank you dear Viscount Fibo_trader.

Your analysis is much appreciated. My question was testing the shorter term fundamentals, not so much to technicals. Given price at the time of writing my Sunday evening post had yet to reflect the trip to N.Korea. So was interested to get the forums view on whether this would set a bullish trend or bearish trend.

I backed myself on this trade which was triggered last night, which went in my favour. I appreciate that the chart may look cluttered, but comments and constructive criticism welcome.

Regards,
Sam

View attachment 264375

Que fantastico, Senior Sam, buenissmo trade

Excellent trade, Sam. Nicely done. Chart is not cluttered, its fine. Don't worry about fundamentals or technicals, your trade method is yours, many way to get to Rome, winning trades is all that matters.

 

[fibo_trader]

My last GBPUSD posts were a 1H and daily chart in post #177. The daily chart trendlines still hold true sooooo many days later. Chart from June 2 from post #177

 

[fibo_trader]

Will look at GBPUSD again over the next days but for now in this ogonblick, a quick look at the daily and I've added a middle white trendline to the 2 that were there from early June posts. If that middle trendline busts topside, GBP will go to 61.8%. Notice how it retraced to exact 50% on the first rally. See RSI panel in lower window, if that trendine busts topside it will be confirmation. Macd going above 0-line will be a big bonus confirmation too.

Will look closer next few days.

 

[ssam]

Thank you once again Fibo_Trader for the charts and analysis! I shall also be watching GBPUSD with keen eyes over the next few days. This morning (6am in the UK) before I start my 9-6pm office job I run through the charts to see what opportunities present themselves.

I try to balance the technical and fundamental side of my trades, but always looking to refine and hone my skills - I am by no means an expert trader. Your strategy is built primarily of RSI, MACD and Trendlines + divergence? oh... and not forgetting Fib!!

I turn my attention to the GBPJPY, which appears to be trending up nicely, with the 50EMA having been retested a few candles previous and it has held as good resistance. I have a pending order set at a sniff below the 50EMA, between the trendlines.

If you have time, I would be keen to see what your view on this pair for the day / week. The double weekly hammer on the pair on this pair indicates some upside momentum.

 

[ssam]

Was super close to getting stopped out on this - trade looks to have reversed slightly. Should have placed my open at 136.500 which was the zone toward my lower trend line. Missed out on 25 pips from this move but hey... the market will always be there

 

[fibo_trader]

Thank you once again Fibo_Trader for the charts and analysis! I shall also be watching GBPUSD with keen eyes over the next few days. This morning (6am in the UK) before I start my 9-6pm office job I run through the charts to see what opportunities present themselves.

I try to balance the technical and fundamental side of my trades, but always looking to refine and hone my skills - I am by no means an expert trader. Your strategy is built primarily of RSI, MACD and Trendlines + divergence? oh... and not forgetting Fib!!

I turn my attention to the GBPJPY, which appears to be trending up nicely, with the 50EMA having been retested a few candles previous and it has held as good resistance. I have a pending order set at a sniff below the 50EMA, between the trendlines.

If you have time, I would be keen to see what your view on this pair for the day / week. The double weekly hammer on the pair on this pair indicates some upside momentum.

View attachment 264380

Nice, nice, nice. OK, will have a look see at GBPJPY later today. You might want to look also at USDJPY in my thread - opportunity of a lifetime aborning. So, you can do both, kill 2 birdies with one ............

later ..............

 

[ssam]

Nice, nice, nice. OK, will have a look see at GBPJPY later today. You might want to look also at USDJPY in my thread - opportunity of a lifetime aborning. So, you can do both, kill 2 birdies with one ............

later ..............

Thanks Fibo - I am current on a train, so have some time to read. I will pull up your thread, I will have and see how we go. Interest to learn more about your strat. too. Is this something you have a thread on too?

 

[ssam]

Thanks Fibo - I am current on a train, so have some time to read. I will pull up your thread, I will have and see how we go. Interest to learn more about your strat. too. Is this something you have a thread on too?

BOOOM! Stop loss hit!

The learning journey is a bumpy one folks !

 

[hatemypips]

Trump visit to North Korea has no direct implications for stocks or currency pairs because we don't know his actual achievement in establishing peace on Korean Peninsula. But you can expect some upside moves in Asian stock markets, particularly in South Korea if there will be progress in denuclearisation.