Weekly remarks

Hi, I`m opening this journal, to put some weekly remarks. The traders, I belive, have an influence on me: Strat, Greg Wilson and profitfarmer. Very good reading.

At the moment I`m trading long and short term accounts and I have a plan, to open a new account with medium term goals. I would like to see, if I`m able to find a good levels for that type of trading. I don`t have a system, money and trade managment yet, I will work on that during the year.

So a lot of work to do!

UKOIL: resistence around 70,00 confirmed with a cange to the downswing, SHORT.

UKOIL: price was going down, it could be a good medium term trade.

GOLD: good move up, back to resistence, SHORT

USDJPY : break of support, on the test from the other side, SHORT

EURAUD : resistence is holding the price, SHORT

GBPJPY : good support at 1.475, low of WCC, LONG

NZDUSD : good move up, resistence at 0.75, SHORT

DAX : on the test of broken support and high of WCC, SHORT

Last year I changed broker and left a realy small account open with FXCM. I`ll use it instead of paper or demo trading. Here are fresh entries of this week:
XAUUSD

GBPJPY

EURAUD

I took first profit on GBPJPY, trade is on BE, target are set. Waiting time now, but I don`t see a lot of chances targets to be hit. Every week I try to see a biger picture of GBPJPY, I`m trading short term. Here is what I saw this weekend:

GBPUSD range, USDJPY down trend = GBPJPY down trend
USDJPY broke the support, could test it and go down.

It will be a hard week for GBPJPY, i don`t see a clear direction, looking at GBPUSD and USDJPY. ATR fall belove 300 pips, it`s a sign, that could zig zag around the level, where it is now, for a period of time. I`m giving a 80% of chance, that ATR will fall to around 200-220 pips and the price will move at the low of WCC, where is a good support.

First profit on gold, targets are set, waiting time. I had 3 losers, two on EA and one on gold. Balance went down 3,3%, now, with two TP1, I`m in 0,8% in drawdown.
I expected EURAUD reaction on the lows, but open space down belove, if I`m right on bigger time frame, is huge. Would like to see the price back to the circle.

I closed TP2 on XAUUSD and GBPJPY manualy. It gives me a new balance high. One position on each is still open. EURAUD is going up nice, USDJPY come to test broken support. I`ll sell both.

GPBJPY fall 60 pips, just after TP2. It is looks like, my weekly view is correct and TP3 is to optimistic. I closed the last position. I`m done for this week with GBPJPY.

EURAUD short, price did not come to the circle, but anyway, another try.


EDIT: position closed for a loss

Waiting TP3 to be hit on XAUUSD. I moved it a little bit higher.

EDIT: Last position closed manualy, 30 pips before TP. It gives me a nice profit, new balance high, why should I give pips back, right?

And here I go again, new entry EURAUD.

Entry on USDJPY, H1.

First profit is taken, trade on BE. Weekly chart.

It`s been a good week, despite 5 losers on EURAUD. I expected a big down move, wich did not happend (or maybe started this Friday afternoon). Because of my belive, breakout should happen, I didn`t see a clear daily range. Breakout will happen and it is worth trying sell the highs and buy the lows. Daily chart:


I closed all positions on GBPJPY and XAUUSD, wich gave me a nice profit. I left 2 positions open on USDJPY, weekly chart:


Here is the list of pairs, I will monitor this week:

- GBPJPY: sell the highs, buy the lows, trading RANGE
- EURAUD : sell the highs, buy the lows, expecting breakout, trading RANGE
- USDJPY : WCC formed, resistence is holding, sell highs, SHORT
- DAX: sell resistence and the top of WCC, SHORT

New on the list are:

- AUDNZD : sell resistence and the top of WCC, SHORT (weekly chart)

- UKOIL : sell resistence and the top of WCC, SHORT (weekly chart)


NZDUSD and XAUUSD are off the list for this week.