Piptrain trade journal and performance

I see inside daily candles on the GJ and also the GU. The inverse h&s is still valid until the shoulder is violated at 1.9745, which is also that down trendline. if this is violated then shorts should really pick up steam. On the daily GJ, the 5ema is still in control, so in my opinion a break of today's high (206.10) and I will be again long, a break of the low (204.10) and I will be shorting this pair.

Note:
203.41 is 50% of last week's UP candle, already been retraced this week to there..

cheers

shorts are lookin better for GJ. Here is 4h updated chart. price appears to be breaking out of this triangle to down side. i shorted at 204.50. looking for 100 pips. dow futures are down. price needs to now break 204, then comes the 203.40 area, that 50% of last week move..

note the downward cross on the cci thru the 0. also the adx is starting to cross for downside, but the yellow indicator line needs to start heading up with the red line as the downside gets confirmed.

When i moved my stop to BE at 204.50, my short trade got stopped.

Rangy rangy today, and whippy action. Will wait for true break of HIGH or LOW to be safe.

Weekly closed as a doji last week, and now today's daily candle largely down so far, testing the daily 50ema...again. I shorted twice this am for +85 and then +50 pips. I am standing aside for now, though further downside is quite possible. Consumer confidence at 10am will move things around, I may wait until then to see if price retraces or what.

The 4h cci has poked thru the 0 line, and the adx red line strong to show continued downside likely. Might see the 50% of that last big up move again, at 203.50.

That inverse head and shoulders on the GBPUSD daily has pretty much failed and downside is looking better. See how the trendlines have been workin nicely.. Break down of the 1.9670 low should then see a retest of the previous low at 1.9350 area. I like that the daily cci rejected at the 0 level back down, just need the adx to confirm a direction.. Now that the monthly and weekly pivots have been overtaken nicely, I expect continued downside. I missed the lovely sell opportunity on this pair today, will be watchin it more closely.

Also, the EURUSD is forming similarly for continued downside.

Looks like bear flags.

Three buy trades today on GJ: +40, +20, +50. Left plenty on the table, but thats ok.. Daily candle looks like she will close nicely for continued longs.

GJ monthly closed nicely BULLISH, first bull candle in 6months. Looks like an engulfing candle and also closed above the 100ema. Appears to be setting the stage to at least retrace up further to the 61% which is also near the 200 ema. 214.95 area. The monthly pivot has now moved up to 204.20, could see that again before moving up. As I said couple weeks ago, April monthly pivot at that ultra famous 199.60 fib level has proved, SO FAR, to have made a major base. Will the fundamentals play along for continued up or will this retracement be only that, a retracement?

Three trades today in GJ: +0, +4, +28. Tomorrow NFP.

The 5ema is still in control on the daily chart on GJ, which closed an inside daily candle. Trend is still UP on this pair. An hourly candle close above the daily pp at 207.25 and I am considering a Long trade, maybe ready to touch the daily 100ema.

Updated 4h chart, GJ.

My trading today was a little off: +20, 0, -35.

Check out the 4h chart, all of my 3 trades were shorts, that last one kicked in when suddenly the market (and the DOW) decided to reverse.... oh well. Now price has made its way back to the weekly pivot at 206.74. Check out the new trendlines, price is in a tight consolidation, but could be ready to break back out to the UPside? Looks like price turned around at the 61% fib retrace. Will be watching these trendlines to see true break and retest for the next move. Also, the cci is pointing back UP, just a bit through the 0 line..

I still wait for some sort of break of this 250 pip range on the GU. We have not seen this kind of consolidation for quite some time on this pair, so I am thinking once it breaks it will be nice. See the trendlines still in control..

Patience..

+46 on EURUSD short earlier, and +40 on GJ short today.

cheers

Nice H&S pattern on 4h GJ heree, NL broke down. Would like to see a retrace back up to it to ride this down down down to 202.00 region. 204.19 is monthly pivot, and then 203.50 is the 50% of the big up move some weeks ago, may pose some support..

2 trades today: +50 on EURUSD long trade, +50 on GJ long trade.

I been adding EURUSD to my mix to keep the pips rollin in.

GJ 4h chart. Appears that the trendline from the low has been breached and retested with the last candle. And the montly pivot at 204.19 definitely taken out. So now I am watching the fib levels at 202.68 (38% of the whole move from low to 209) and also 203.50 (50% of the most recent up move). Price is caught between these. I must think bias is continued down at this point, but many oscillators are very over sold (this could mean NOTHING, since strong trends will often show this). Let's see what tomorrow brings.

cheers

Daily GJ chart paints a prettier picture. As long as price remains below the blue trendline, I must continue to think downside. Notice the cci is sitting on the 0. I would think that price would like to retrace to hit the line once more, but it does not have to. Fib extensions show potential back to the all important 199.60 level, then possibly to test that big down trendline from the 241 high. IF that happens, maybe it would coincide to make a beautiful double bottom?

happy trading

Got up late today. +39 on short GJ. +60 on long GJ..

Here is updated 4h chart.

200.75 is 50% of the low to 209 peak. This thing is so oversold, which is why i went long after the 0830 news. I keep thinking there needs to be more retrace up so that it can really fall....

fibbed from 209 peak down to low today, and 38% is near 203.50 and the new trendline coming down, would be lovely for the retrace. don't know if it will happen. seems like this weekly candle will close BIG and RED.

Here's weekly chart, GJ.

What a beautiful retrace up to the 38% at 203.50 area. But now what is interesting is if the 1hour 200ema gets a close above that and price remains above, then there is definite possibilities that the bounce at 200.75, the 50% retracement of the low to the 209 peak, is showing that the weekly chart is indeed ready to keep heading up. For this to happen price must stay above hourly 200ema...

If price bounces at the hourly 200, or remains below and heads back down, then I see price heading back to test the current low at 199.60 area, then possibly more down from there.

cheers

Here is 4h GJ. Got the retrace to 38% and then to 50%, where price is now. Look how the trendlines are in play. I do not feel comfy buying anymore unless the TL and the recent high taken out, I think. Double top is in place currently on smaller TF. On larger TF overbought territory, so I wait for possible short opportunity. But as stated before, as long as price stays above the 1H 200, then Longs are preferred. Difficult area here. The word for today: CAUTION.

Took a quick +50 this morning on GJ short. Just patiently waiting for a break out of this range..

Most TF are starting to point down, but look at this inverse H&S forming on the 30minute.. Shoulders are firmly supported on the 50% fib at 203.50. NL comes in around 204.10 area. Not sure I will wait around for this as NY is closing. Failure seems more likely below 203.50, might be good for shorts, will be in line with 4h chart.