ASG CORP Journal

Guys, welcome back!

This thread will be dedicated to posting my live trades on EU/GU/EJ/GJ and US stocks.

Previously I ran a thread at FF called High Velocity Trading.

Now I'm back bigger better and hopefully can pass on some experience here.

Quick recap: got over 10 years exp in FX, 4 years trading US equities, OTM options and spreads.
On FX I prefer trade setups, which last 1-5 weeks, however I may take on intra-week positions.

Managing a 7 figure account currently, targeting 80% + returns pa with limited risk.

Not all my trades are suitable for everyone, as I tend to have high exposure on FX.
On equities I run balanced portfolios hedged with put options.

Feedback, comments, feel free to post.

Here's the first trade, which is pending/coming up this week.
I look to get in LONG EU @ 3680-3720 zone, just above powerful demand zone.

The trade setup: LONG EU @ 3680-3720 SL 60 TP1 3980 TP2 4060.
This trade will have a total duration on 3-5 weeks, so this is not a day trade!

Backing for the trade: Daily chart see below. Euro is entering a strong period for the year (March-April). US NFP report on Friday will produce
meagre numbers, due to seasonal effects (winter freeze, storms, etc).

I prefer to enter the below trade sometime this week (Wed-Thu), for the trade will keep an eye on dollar index, S&P and Nasdaq, as US stock indexes can tell the direction for EU.

Just closed my shorts on EU since FRI PM / SUN PM. 18 mln EU shorted in total. Out with + 80 000 USD.
Here's the total tally.

Now we are looking for EU to form a bottom pattern in the 3680-3720 area, wait for H4-H8 confirmation candle and enter long.

Probably will not trade Tuesday will wait for the bottom and get in back LONG @ 3680-3720 area.

One quick note thouth - we have to wait to check if 3600-3660 area holds - this is key to establish a 2-4 week EU LONG position.

best,

ruffryders

EU looking for the reversal confirmed by H4 formation in the highlighted zone.

Can take a while - Tuesday and Wednesday consolidation in the zone will confirm further (THU-FRI) strenght in euro.

preparing to initiate EU long positions @ 3680-3690 area. Before ECB tmrw.

My take - 90% probability that ECB + NFP will propell EU to 4000-4100 area this week.

good to see you back mate - with you on EU bull bias - looking at a kind of tweezers bottom pattern here at 61.8% of recent swing - would jump in if not for the time of day - but I suppose this is a minor detail for a med. term trader gl - will be keeping an eye on the thread , cheers

Chazzle, likewise, nice to see that you guys are still around and keeping it g'ed up.

Nowadays I don't do much forex, mostly stocks here, however current setup favors upside, so I will load up hard.
Mostly though with FX I prefer options now.

Updated, EU H8 chart analysis.

updated EU analysis with keep points. Bottomline: I remain EU bullish currently into ECB. Will look to initiate spot/option positions tmrw.

EU update. will keep an eye open on this sob tmrw. Today no position initiated. Would like to see price keep up above 3730 area tmrw.

EW H4 analysis results in the same reco - EU LONG

eu update. Entered eu long positions @ 3733 4 x 2.5 mln spot / 4 x 2.5 mln via call option.

wish good luck to eu longs today, let the mr draghi the dragon do his job.

please note there is no SL and TP. SL is N/A currently. TP1 on this trade is 3980 TP2 on this trade is 4080.
I will let positions run for 4-6 weeks now, and once the PA is +100 pips, I will adjust my SL to BE on spot positions.

eu trade update. Moved sl to be on spot positions. Running p/l 150 000 usd.
next up - 3900 and 4000. Watch the stops taken out and further acceleration of eu to the upside soon.

good sign for eu bulls - eu making headlines on bloomberg. 4000 test coming up soon.

nfp came better than expected, i got out @ 3860 with +180k on spot/options positions. Overall 20 mln were sold after nfp release.
reaon: Weak nfp + 8h reversal candle @ 3900.

will look to re-enter upon completion of the retrace. I'd expect price to come back to 3750-3800 area before climbing any higher.

will keep you updated as we go.

here's a total tally on the above trades. last column is P/L statement. overall, not a bad week, will look to re-enter LONG EU next week, upon doing more analysis over the weekend. Have a good weekend guys!

so far in March, up 260K USD in total.

sold 50 standard lots of EU @ market (total 5 mln euros). TP 3807.

Preliminary review for next week - will look to short sell EU @ market open - add +5 mln.

Once we reach 3800 / area of strong demand/support - will build up a big position in EU LONG / USD/CHF SHORT.

Will post charts and review my analysis over weekend.

have a good one!

EU pending SHORT sell stop order @ 3847 TP 3807 (+40) with 50 standard lots @ 5 mln euros added.
Total exposure on EU SHORT = 10 mln euros.

That's it for today. EU will fade out during Asian open on Sunday.

here's an update on eu h1 chart. My preference - price will pullback toward week pivot area and from then onwards will strike for 3980. However, there is a chance that price will just keep onwards and strike for 3960-90 area from the start of the week.

my trading strategy therefore: Close out eu short @ asian open. Wait for price to pullback towards wp, or strike through 3890 and take a long position. This week only spot positions, no options.

here's the chart