TheDirtySerb Daily Journal

Friday, January 12th.

Euro and Pound are the strongest today while the Dollar is weakest, followed by the Yen and the Cad.

News out in a bit this morning so I'll wait to see how market digests this info and then decide on entries. Euro and Pound may be a bit extended this morning so buying the dips without new highs may signal a short term correction lower.

EJ - Bullish - Buy dips, watch for new highs
EU - Bullish - Buy dips, watch for new highs
GJ - Bullish - Buy dips, watch for new highs
GU - Bullish - Buy dips, watch for new highs
UCad - Neutral, wait for direction
UJ - Neutral Bearish - Selling opportunity, watch direction after news, may change

+35 EJ, +25 EU = +60.

Analysis: Nice day today. Stuck with the plan, although a little nervous about buying dips so high, but it proved to be ok and turns out my exit was way too early so left a bunch on the table. Can't look at that though and I'm happy the way the week ended. Back at it Monday.

Tuesday, January 16th.

Yen is the strongest currency this morning, followed by the USD and then Cad. Euro is the weakest followed by the Pound. Possibly a short term correction after that dollar beating last week.

EJ - Neutral Bearish - Need confirmation to go short
EU - Bearish - Sell rallies
GJ - Neutral Bearish - Need confirmation to go short
GU - Bearish - Sell rallies
UCad - Neutral - Wait for direction
UJ - Neutral Bullish - Buy dips

EU -30, EJ -17, UJ -15 = -62.

Analysis: Rough day for me as the Euro came storming back and I sold into rallies as planned. My only mistake though is that I clearly said dollar was weaker than Yen but somehow I saw UJ as being neutral bullish so I bought the dip and got stopped out. I tried to catch two short positions on EU and they both took me out for -30. My plan and execution was good but the market did not cooperate with me as momentum turned. Back at it tomorrow.

Wednesday January 17th.

Yen is the strongest currency this morning out of the pairs that I do trade, followed by Cad and the Pound. Euro is once again the weakest this morning followed by the USD. Those strong currencies are not really all that strong though, being up only fraction of a percentage point. Euro is the only one with significant weakness, so my plan will have to rely on seeing new lows to sell the dips. Seeing how the strong currencies aren't all that strong, it all may change during the course of NY session so tight stops are in order.

EJ - Neutral Bearish - New lows, then sell rally
EU - Exceeded daily range so sell only on significant pullback. Above 1.2260 suggests shift in strength.
GJ - Neutral Bullish - Be careful here as Yen is slightly stronger. Wait for clear strength in either Yen or Pound to determine direction.
GU - Neutral - Wait for direction.
Ucad - Neutral Bullish - Wait for direction and CAD news.
UJ - Neutral Bullish - Be careful here as Yen is slightly stronger. Wait for clear strength in either Yen or USD to determine direction. Exceeded daily range so upside move may be limited.

EJ +22, EU +20 and -15, GJ +37, GU -20, UJ +16 = +60.

Analysis: Very interesting day today in regards to EU and GU. Straight up and then straight down. Yen trades were right on even if I did leave a lot on the table. Nevertheless, a profitable day today and that's all I really care about. Post London trading has been pretty good as of late, more movement than I anticipated or am use to.

Thursday January 18th.

The Pound is the strongest currency this morning followed by the Euro. Yen is the weakest followed by the USD and the Cad.

EJ - Bullish - Buy dips above daily open. A run higher before pullback may get into overbought area above 136.50-60 in which case try short position with tight stop.
EU - Bullish - Not sure how much more room to the upside this one has today. Making a series of lower highs and lower lows. Will try stacking position above 1.2260. Risking 1% loose stop.
GJ - Neutral Bullish - Another that looks somewhat flat to me but has a lot more room to the upside. Will hold off until I get clear direction.
GU - Bullish - Wait to see if forms a lower high. Exceeded daily range, a run above 1.39 may signal sell. Will wait.
UCad - Neutral - Will wait for direction.
UJ - Neutral - Tight daily range. Expecting breakout - wait for direction.