Trading journal – 27th July

DXU18 – the price has bounced back above the 15 day and 40 day moving average is so that is a positive sign and previously when it dipped below by a similar distance it did go on to make new highs. I’m still on the watch however for a negative outcome.
KCU18 – coffee did indeed sell off from near the high of yesterday’s indecisive doji candle and looks to be heading lower again towards 107.50.
ZWU18 – failed to remember to buy this yesterday at the open. Weaker candle from last night provides a good opportunity to get in, the price came down to but not below the midpoint of the previous days bullish candle. Still a chance to get on board in my mind. I can’t see another candle this bullish on the 6m chart.
SBV18 – sugar did try to go below 11 again yesterday but by the close it was back up above the support which seems to be holding for now. Nothing decisive either way for me so just watch and wait.
HGU18 – a negative signal on Thursday after Wednesday’s session where it attempted to go higher but was rejected and now the open near Wednesday’s high but the close near Wednesday’s low is discouraging. Either way my stop is in place at the break-even price so just have to wait to watch. I would also say that this down day is probably due to the rally in the US dollar index overnight.
ZSQ18 – even though it was a negative candle on Thursday, the price overall was still higher so there’s a bit of a positive trend with almost 7 days in a row of gains for soybeans – most likely on the relaxing of tariffs.
ZMZ18 – not a good candle yesterday with the long Upper shadow as well as the open and close near the bottom of the session range. But the price action was still higher overall so I will have to wait and see what tomorrow brings and also take into account the stronger US dollar on Thursday.

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