Trading journal

[rezo_s]

Hi NB,

I would be good with 1.6720/30...

1.660/30 as you mentioned is support and may trigger stops...but who knows 🙂

here are supports on the way down (if we go down):

1.6660

1.6630

1.6550

1.6530 - last level, which if broken should trigger my target of 1.6495

Good Luck,
Rezo

 

[rezo_s]

stop moved to entry level

 

[Newtron Bomb]

Thanks for the reply rezo

Interesting support levels... mine were not too far different based off the 15 and 5 min charts
1.6680, 1.6670, 1.6645, 1.6620, 1.6600, 1.6560

Looking for an entry to add to short position

Euro/$
I would have like to short and was looking at 1.1710 for an entry but decided not to take it as i was meeting friends for lunch.

Happy trading :cheesy:

 

[rezo_s]

NB,

I actually sold euro@1.1717 yesterday night - look couple posts above, but I recieved a mixed signal bit later, so I closed the trade - preffered not taking the chance....well, it occurs it was a good trade, but I prefer things this way.
As for supports - maybe the difference comes for time frames - 15 min is the smallest I use...but you know how it is with levels - better to talk about s/r areas bcos there is never exact level (well, almost never).

Good Luck,

Rezo

 

[rezo_s]

Well, this is definatly market that doesnt know where to go 😕

Cable closed at entry level

 

[Newtron Bomb]

NB,

I actually sold euro@1.1717 yesterday night - look couple posts above, but I recieved a mixed signal bit later, so I closed the trade - preffered not taking the chance....well, it occurs it was a good trade, but I prefer things this way.
As for supports - maybe the difference comes for time frames - 15 min is the smallest I use...but you know how it is with levels - better to talk about s/r areas bcos there is never exact level (well, almost never).

Good Luck,

Rezo-

euro$ looked a good entry this morning too but like you i was mixed in my opinion so left it coupled with a long lunch it wasnt worth the risk 😉

I totally agree with you about s/r levels i prefer to think of them as watch areas rather than solid levels

Added gbp @ 1.6695 covered entry, stop not been triggered yet curtesy of cmc :cheesy: but looking like it will be filled in the next 5 min or so

Am done for the day happy trading

 

[rezo_s]

I'm also almost done for today, but will take a glance at cable later for possible resell. no positions at the moment.


GL

 

[rezo_s]

sold cable@1.6693

 

[rezo_s]

stop@1.6775
target@1.6495

 

[rezo_s]

Stopped on cable, loss of -3.28%,

MTD: - 4.16%

Looking to resell and add euro and swissy shorts as well. Euro looks very week. This push may be the last one. Wil see. First lets wait and look where is this going to.

 

[darrenf]

"Well, this is definatly market that doesnt know where to go"

Would agree with you there. It's been quite difficult this month so far.

Have made 12 trades which is a lot for me considering we're only half way through the month. Only 1 winner, 3 losers and 8 break even trades. Overall -1% for the month.

Have been negative on £ and euro and shorted euro/usd yesterday at 1.1645 only to be stopped out at breakeven today. What I perceived to be the start of a new down trend now looks more like a bull flag on the daily charts.

Will look to go long on gpb/usd now it has broken above the recent consolidation.

 

[rezo_s]

We have to see where is this move taking us before deciding if its bull flag or not. If we look at 60 min charts, there is a chanell going down. Upper border is near current levels and upto 1.1710. If we break 1.1710, I think the bussish scenario is most probable.
On the other hand, I may still sell even if we break that level, that is if my downside analysis will be still in place.

GL

 

[darrenf]

agreed it still needs a solid breakout upwards to confirm the bull flag scenario.

 

[rezo_s]

Well...you see? this seloff back (euro back to 1.1630 form 1.17) proves that we most probably are on the way to deeper move down.
Unfortunatly I couldnt enter as I wanted because of the agressive seloff. I dont like jumping in like that.
If there will be push back (still possible), I will reconsider entering. It looks good.

 

[rezo_s]

Hello Everyone,

Friday may give (and may not) good opportunities to enter some positions. Here are currency pairs I have my eye on:

short eurusd for (target) 1.1450 - 1.1435

long usdchf for 1.3560

short gbpusd (still after yesterday close below new highs) for 1.6495, and if we are in some that correction (very possible), then even for as low as 1.6170

long usdjpy for 112.10/50 - gap area (but first we need to break 110.20 for that)

short eurjpy for 125.50

short eurgbp for 6875 and 6760/80 as second possible target

Will see how things go. As usual, I will pick up maximum 3 of these trades. I prefer 2 majors and one cross pair.

Good Luck,

Rezo

 

[rezo_s]

.......and if we are in some that correction (very possible), then even for as low as 1.6170

What I meant was "if we are in something more than correction, then...

 

[rezo_s]

No entry yet, will wait for next week opening for possible trade opportunities.

Have good weekend everyone,

Rezo

 

[rezo_s]

New week: Oct. 19 - 24

Sunday, October 19, 2003

Hello everyone, hope you are all having a great weekend!
Here's what I think on market after Firday closing and before the opening...


EURUSD:
This is the first week since beginning of September (when we reversed @ high 1.07s) when we didn't see new highs. At the moment I have doubts whether we even get to retest 1.19 highs, because the move seems to be running out of steam. But we still may see another try to go higher. Lets take a look at daily charts. Last time when we corrected, it was to 1.1530 level, and we bounced from there on till this week when we went on FRIDAY as low as 1.1545 and bounce once again. Well, from the first sight - trend up is still in place - we got higher highs (after correction to 1.1530 we got +1.18) and higher lows (on the second correction we got 1.1545). I stressed the word Friday in the last sentence because Friday trading has some differences compared to rest of the week, and therefore what we see on Friday should be taken with skepticism. We were on seloff from the beginning of the week, and those who took short positions during the week were closing the shorts. No one wishes to hold shorts when we had such a strong upside move of 1000 pips from beginning of September. There were several more reasons to that Friday upside move, but that is not as important. The more important question is: what next?
Well, I don't know what you think, but I will try to sell first think on market opening; maybe even during the first Asian session, maybe little later during the day. There still is a chance we try to break up, and if we look at the chart, we see the possibility for right shoulder on h&s pattern. Will it happen? We will just have to wait and see. Anyways, if selling, I will have to move stops promptly because another attempt to break upside may not be ruled our yet.
If we break upside, I will be considering to buy later during the week. No signals for buying at the moment.

 

[rezo_s]

USDJPY:
Well, if we take a look at chart, we see this was the first week we were correcting. Not that much of correction, but still. On Friday we got the closing of all longs, and the black candle on the charts.
NO doubt that we have a very strong down trend in place here, and in order to take long, I prefer wait to see the inability to go lower, i.e. see another move towards 108.50 and bounce back. If we see that, I think it will be good to take long for initial target of 112.30 (gap area). Enough room to go up if confirmed, so lets take it easy.

 

[rezo_s]

GBPUSD:
Mixed picture at the moment. No definite direction signals here. Sidelined for now.

USDCHF:
Well, very bearish candle on the daily charts, but still - its Friday candle. If it is approved (which should happen first thing in the beginning of the week), we may go back to retry break down. We can observe almost same picture here as on euro with possible third attempt to go down, but on this currency pair we saw higher correction than the first time. So actually the sentiment for USD to weaken here is weaker, but still there. I prefer taking long position, but I prefer doing it after we go lower and see the inability of bears to push the market to new (lower) levels. We have got channels both on euro and this pair (60 min charts), so there is possibility we bounce back upside here around 1.3250 level.