Jezek5's FX Trading Journal.

[jezek5]

Re: Fiber daily

Fiber looks like it needs to test the 4200 zone to
suck in some more shorts to sqeeze them out on the run up to 4450.
Although if 4200 doesn't hold i think 4170 will.
This move could be for next week though.

Wrong,thankfully was flat so no harm done,
just a lesson to be learned.

 

[jezek5]

Re: Silver.

Don't trade it but the backwardation situation is
really intriguing me.
It's in full breakout thismorning,as long as 36.61 holds
then first target is 39.80 and then up towards 44.
Doesn't look like it will even pull back below 37.00.
These calculations are on daily and weekly charts.
Current price 38.30.

Ok,time for some ego stroking,
first target hit,44.00 here we come.

 

[jezek5]

I see my view count is steadily climbing,many viewers or just
one nutter who keeps clicking on my journal,either way have a good weekend.


I was a silent reader for eight years,sometimes its the best way .

One final note ,understand yourself far more than you understand the market
and the rest will eventually fall into place.

 

[jezek5]

Re: Cable

Stop hit at 6355.
Dx couldn't even hold 75.55.
Might take today off,not sure yet.
Clearly i've dropped the ball.

Want to make one last note on this while i remember,the last 4 weeks have been above average for me,i think the dreaded "i'm better than the market" syndrome kicked in,
this is when having a risk manager standing over you is worth its weight in gold.
Sell 6315 SL 6355,thats not how i trade,far to much risk when i couldn't even define my reason
for taking the trade.

 

[jezek5]

Cable.

Every time we get down to the 6300 zone the bids
show up,i'm just not sure that someone bigger isn't off loading
into these bids,"Merv the Swerv" wants a weaker pound,
and yes i'm short again at 6375 stop already at BE.

 

[jezek5]

Cable

I need to qualify to myself why i keep trying
to sell cable up here.
1 hr and Daily clearly shows that who ever
is buying here is buying into resistance,now if they're
big enough so what,they can do what they want but,
if they're not so big they just might be buying a short term top.
I think we'll soon find out.

 

[jezek5]

Re: Cable.

Every time we get down to the 6300 zone the bids
show up,i'm just not sure that someone bigger isn't off loading
into these bids,"Merv the Swerv" wants a weaker pound,
and yes i'm short again at 6375 stop already at BE.

This is starting to get a bit silly now,BE stop hit
and then back in again short at same price 6375
again BE stop.
Would have sold higher but wasn't about at that time.
Target 6200.
Edit....Scrap this plan,scrap target,covered at 35 for 40 pips,
DX looks aweful,will reassess in the morning.

 

[jezek5]

Re: Cable.

This is starting to get a bit silly now,BE stop hit
and then back in again short at same price 6375
again BE stop.
Would have sold higher but wasn't about at that time.
Target 6200.
Edit....Scrap this plan,scrap target,covered at 35 for 40 pips,
DX looks aweful,will reassess in the morning.

OK missed that then,scalped 25 pips short today but
didn't get payed right for a good call.
Never mind.

 

[jezek5]

Silver

For those thinking of being a hero and joining JPmorgan
in a short have a look at this.
I hope Jps eyes are bleeding,there hasn't been any short PA on this chart since
April 2008,and there still isn't.
The really funny thing about the JP Morgan short as i understand it is
that there isn't enough silver in the comex for them to buy to cover
that short.Talk i hear is that they're trying to do some kind of cash deal,
yea,good luck with that boys,
silver over 50 anyone.

 

[jezek5]

Re: Cable.

Every time we get down to the 6300 zone the bids
show up,i'm just not sure that someone bigger isn't off loading
into these bids,"Merv the Swerv" wants a weaker pound,
and yes i'm short again at 6375 stop already at BE.

Oh ,so now the market does't think interest rates are
going up anytime soon,what a surprise...not...
Bad hayfever today,i've got the right hump.

 

[jezek5]

Going back to just trading Fiber,Swissy and Kiwi,got a bit side tracked
with Cable of late,i seem to find it hard to trade my own currency.

 

[jezek5]

Kiwi

Kiwi daily,lovely bullish outside bar yesterday bouncing off of support,we are a bit overextended here but PA looks so strong,will probablely look to buy dips on the hourly for a run at .8000

 

[jezek5]

Swissy

What can i say,i wonder how many accounts have been killed trying to pick the bottom of this,needs to test lower red line and look at PA then.

 

[jezek5]

Fiber

Same as Kiwi,bullish outside bar yesterday,one little bit of resistance around 4480 to just over 4500 then it should be a clear run to 1.5000.
Looking to buy dips.

 

[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.

Close to first target74.40,could even waterfall down to 72.
Everything looks stretched but then it has for a while so might just keep going.

 

[jezek5]

Re: Kiwi

Kiwi daily,lovely bullish outside bar yesterday bouncing off of support,we are a bit overextended here but PA looks so strong,will probablely look to buy dips on the hourly for a run at .8000

Kiwi 4 hr pin,tonights close might be interesting.
Would love to buy this at .7800,and would even short scalp it
down to there.

 

[jezek5]

Fiber

Is it me or is that showing signs of short term topping.

 

[jezek5]

Swissy

If Swissy doesn't bounce here then next stop is .8850.
Took a short scalp on it today,fully documented over
at Swissy thread on FF.
Made 35 pips.

 

[jezek5]

Re: Kiwi

Kiwi 4 hr pin,tonights close might be interesting.
Would love to buy this at .7800,and would even short scalp it
down to there.

Down side breakout of an inside 1 hr bar,
might scalp it if it pulls back to breakout point.

 

[jezek5]

Re: Kiwi

Down side breakout of an inside 1 hr bar,
might scalp it if it pulls back to breakout point.

Well it did pull back to breakout point and then push down but
it was to late in the day to trust it for my liking.
Never mind.