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

ssam

Active member
247 5
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

Experienced member
1,656 28
>>>>>> 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
 
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ssam

Active member
247 5
>>>>>> 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

Experienced member
1,656 28
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?


264329
 

fibo_trader

Experienced member
1,656 28
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?"

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Pat494

Legendary member
13,685 1,366
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

Legendary member
36,611 1,859
he needed to pick up some NK souvenirs for his buddies in DC.......went to the main supplier in the DMZ
 

fibo_trader

Experienced member
1,656 28
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.
 
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fibo_trader

Experienced member
1,656 28
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

Active member
247 5
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

264375





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

Experienced member
1,656 28
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

Experienced member
1,656 28
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


264377
 

fibo_trader

Experienced member
1,656 28
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.


264378
 

ssam

Active member
247 5
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.

264380
 

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