My realtime account journal

the All Clear signal for shorts on the Cable has been given some time ago. i'm not entertaining any trades now, just thought i would mention it.

however, if the current 4hr bar {see green arrow on chart} of the Cable close green...that's at 6pm CAT [Central African Time..my time] than my short bias would change to long.

...all my trading stations are closed now...time to for some tea...

tomorrow i may not trade, depends on my schedule, but that does not mean that i do not have any trades open.

Friday, the Day of Congregation, i should be back at my trading stations, God willing.

Captains Log,

The green 4hr bar of the Cable that i mentioned came to pass...so for today we are looking for longs if u not long already. We want to see a green bar again to buy again. See 4hr chart below.




All charts i'm going to post now are 4hr TF. Unfortunately i will be away from my trading stations when these bars close in about 1¼ hrs from now.

Similarly, the are looking for the same event to happen on the Geppy and EUR/JPY...see 4hr charts below.

Can anyone tell me how to place my bite size (small size) charts next to each other instead of below each other in order to save some screen real estate and also for easy comparison and reference ? Thank you in advance.

Weekly Outlook:: Lets start with the currencies that passed across my trading screen.

a} USD/CAD::
...Weekly - UpTrend
...Daily - Confirms the Wkly UpTrend, but first contact has been made with the bears
...4hr - Trend still Up just about, watch the perimeters for a uptrend continuation, if not go short.

b} GBP/USD::
...Weekly - Down
...Daily - Upward Trend change in play...watch colour of daily bar for direction
...4hr - Up

c} EUR/JPY & GBP/JPY::
...Weekly - UP
...Daily - Possible trend change occurring, watch colour of Daily bar for direction, or trade 4hr TM.
-Note: the USD/JPY has already given the shorts the green light.
...4hr - Down trend

d}AUD/USD::
...Weekly - Down
...Daily - Down. correction due i.e. be on the lookout for a Long Signal
...4hr - Down

e} EUR/USD::
...Weekly - Up but muddled
...Daily - changed to up, but watch for a green bar otherwise short
...4hr - Up

Weekly Outlook:: Lets give our interpretation while cross referencing with my previous post above this one that i did in the beginning of this month of June.

a} USD/CAD::
...Weekly - Still valid, trend is still Up
...Daily - Daily Trend is Down.
...4hr - Trend is Down but not good directional moves if one was trading the 4hrs

b} GBP/USD::
...Weekly - has changed to Up
...Daily - is Up, as we mentioned in our prior Weekly Outlook posting, the Daily Upbar gave direction.
...4hr - Up

c} the Yen pairs:: USD/JPY, EUR/JPY & GBP/JPY::
...Weekly - UP but possible Trend change in play because the Shorts have been given the green light in Weekly.
...Daily - Down, as we mentioned in our prior Weekly Outlook posting, the Daily gave direction.
...4hr - Down

d}AUD/USD, AUD/CAD:: (added AUD/CAD)
...Weekly - still Down, irrespective of the current green bar that formed.
...Daily - Down, panned out exactly as we read it in the last post..a rally is currently in play...prepare to short again.
...4hr - UpTrend, chose your trading timeframe (tf) and stick to your signals AND holding period in that specific tf.

e} EUR/USD::
...Weekly - UpTrend becoming clearer compared to our last interpretation that gave somewhat muddled signals.
...Daily - Up
...4hr - Up

So what do my computer screen looks like when i'm trading ?

Below is an example of what my Trading Screen looks like on my Netbook when i'm trading.

There are a few rules that i observe when trading, such as...
1) only trade the price action of different instruments that pleases me,
2) i generally trade the 4hrs and Daily in the direction of the Weekly Trend and Bias,
3) if one of my reliable trade setups fail than i may trade counter trend,
4) if i'm not in the mood for trading...then i don't trade.
5) lastly, each tf has its own trend.

o? and i don't need big charts that fill my screen, about 30 bars of of data is sufficient for me to form a trading opinion, also my primary trading tool is Japanese Candlesticks...all other mathematically derived indicators are there as aids or fog-of-war, depending where you viewing from.

Edit: i don't trade the [USD/Rand] USD/ZAR, its only there to keep my importing/exporting friends and i up to date on the longer term direction of our South African currency.

here's my reading of the most likely directions UK Oil, NGas and Copper based on my interpretations of their respective price actions.

1] UKOil
Weekly Trend...trend changing signal given from down to Up
Daily... Up
4hr... Up with a breather or retracement due before going north again.

2] NGas
Weekly Trend...trend changing signal given from Up to Down
Daily...down with a shorting signal in place.
4hr...down

3] Copper
Weekly Trend...Down
Daily...Down

what about the most likely directions of Gold n Silver ? Platinum and Paladium ? Lumber and Crude Oil ? the Hangseng and the Dow ?

hello there beloved trading journal...did u think i abandoned u ? think agai...its just that life happened, but i'm back now so lets get started in a few moments.

Ok, where shall we start ?...lets post a screenshot dating from the start of this journal of 6 Feb 2011 up until today.

Attached Image

Lets do a recap of this trading week past:

1) Loss on 2 x Longs on CAD/JPY - position fully closed
2) Gain on 3 x Longs on USD/CAD - positions still open

Outlook for the week ahead for trade direction;

 

1. CAD/JPY- still Bullish
2. USD/CAD- still bullish,

​The following positions [different trade station] are several weeks old and still open because their respective trends are still intact, also note the position sizes are tiny per trade...that said, several if not most, have several hundred pips per pair...see the attached images. We have:

1. 4 xLongs...USD/JPY
2. 3 xLongs...Loonie
3. 2 xLongs...Swissie
4. 3 xShorts..EUR/USD
5. 1 xLong....EUR/JPY

​All in profit except the EUR/JPY long...this trade is still open because i'm of the opinion that the trend is still Up. Will post my chart later.

and here is the chart of the EUR/JPY trade that's still in a loss showing long entry level.
the yellow X shows entry bar on the 4hr chart.

Attached Image

the cable is resuming its down trend ...i'm still short several weeks now, for a few days there i thought i will lose them.

Question: What was the reason why i didn't close them ?
Answer: The major Trend is still Down...major as in Weekly, in addition...the Monthly gave a Shorting signal last month.

3 x shorts = 470 + 420 + 350 [in pips]

i'm anticipating Cable to drop from market open as been hinted by its last Weekly and Daily bars. lets take a look...also i cant believe i missed that beautiful drop of the Kiwi. My interpretation tells me that the kiwi was the better short of the two but i completely missed its shorting signals...for comparison im posting their Weekly charts side-by-side.

i mentioned in yesterday's post - post 53 -that i'm still bullish on CADJPY so now i will pull up my FXCM trading station 4hr chart to take a closer look. (im doing this posting from my cell fone so i can check the posting on my notebook later.)
ok i give up posting the chart. ..once it showed up in preview but it was the wrong chart..now i cant get my fone to insert chart.

Lets try again but this time from my Netbook and we are posting a Daily chart. Friday's inverse hammer candlestick is informing me that the selling of the previous day has been stopped by it, so expect an Up day.

Attached Image

as a reminder to myself...should an up day not materialise than my trade direction may change because the price pattern changed.

Here is my 4hr charts of the Loonie and the Cable with the possible Fibonacci retracements of fridays bar, i.e. the Daily bar.
1.1140 for the Loonie and 1.6270 for the Cable, at least that's what i anticipate.

i'm posting this last Daily chart of the Kiwi to remind me next week [or two] that there may be a retracement back up to the round number which is also around the 38.2% retracement of the Weekly bar.