Trading journal – 24th October

DXZ18 – still looks like it’s building towards a push through 96.

GCZ18 – the benefit to waiting to put together a trading plan before putting on a trade is that it gives you time for pause. Examples was last night that I did not wait for the market to move 3% in my favour before putting on the second unit of going long on the gold trade. I put my stop price in at the average price (1234) and got stopped out last night when I had anticipated the price moving much higher. The nature of the price action was a little bit ominous in the sense that there was quite a lot of upper tail to the candle. Still the price remains above the midpoint of the previous candle so makes more sense to have a long bias in the short term. The most important thing is I didn’t really lose much so that’s biggest positive that I can take away from this.

KCZ18 – coffee bounce back strongly yesterday but not so strongly that it still looks like a definite buy. It’s only just above the 200 day moving average so at the moment I am exactly 50/50 split on whether it’s going higher or lower.

ZWZ18 – wheat is holding at the lows again and really I’m just waiting for another rally from here.

CCZ18 – still looks like the price could push on from here but the signals are so ambiguous that I’m not tempted to take a position.

SBH19 – sugar definitely looks like it’s fading from here with another doji candle. I’m going to attend to enter a short position in the next session near 13.81.

HGZ18 – another small leg down during last night’s session and whilst I would prefer to sell around the 2.82 area I’m not sure it’s going to get there. But better to be patient.

ZSX18 – still drifting sideways without much impetus.

ZMZ18 – a similar story to soy beans, nothing to see here.

ZOZ18 – some positive movement on Tuesday which is encouraging and the short-term moving average is coming up as support. Starting to build into a nice little trend.

RSX18 – after a couple of weeks of battling back and forth it seems the bears are winning. What is the prize? At the moment it would seem just a move down to 485.

DYZ18 – a very interesting candle posted by the Dax yesterday with the price opening much lower dipping down and then rallying. It’s certainly looking negative but I’m still wondering whether we will get another chance to sell. The price action was more interesting aided by the fact that the NASDAQ also posted a massive hammer candle and looks to be possibly a strong buy in the short term.

SIZ18 – silver seems to be trying to still grind higher so I’m just sitting on that one and trying to show a bit more patience than I did on the gold trade.

VIX18 – trading almost the inverse of the NASDAQ I think this will lead to an opportunity to buy at lower levels.

#futures #commodityfutures #trading #tradingjournal

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