Trading Journal – 5th January 2019

DXH19 – will get another chance to buy near the 100 DMA or even just below I would suspect. That is currently at 95.22, so I would think I could put an order to buy in at 95.10 with a stop just below the big figure at 94.90.

E6H19 – The Euro is still holding above 1.14.

B6H19 – I went short the British Pound towards the end of the Friday session at 1.2750 as I plan to the other day but I got stopped out at 1.2790. I think the previous high was 1.2793 so it was a mistake not to place it above the previous high, if only buy a few points. The fact that it finished near the high probably suggests that it will continue higher so I doubt it would not have been stopped out anyway.

GCG19 – A big negative day for gold with the price coming back on comments from the Federal Reserve Chairman Jerome Powell that would be willing to make adjustments to policy according to any change in the data. Most people have interpreted this to mean they will not raise rates if equities keep on tanking and global data worsens but I suspect if other data is strong they won’t let a falling equity market by itself deter them from raising rates. He immediately responded with a comment about the unemployment rate when pushed on Fed Policy re: the equity markets recent tanking.

SIF19 – Another very positive day for silver. Could this be a break out?

PLF19 – Huge up day for platinum. Trend is down so wait for opportunity to get short.

HGH19 – Bounced back after the bullish response from the Fed Chairman but I can only see this as an opportunity for getting some cheap short positions. Outright I would think at 2.68, Or i could put in a limit order to buy some 2.50 put options.

SBH19 – Sugar could provide a good opportunity to get short at the 15 day moving average, targeting the prior low at 10.79. The entry is currently at 12.35.

CCH19 – price now back below the 200 DMA, but short term average still pointing up.

KCH19 – still finding support at the old low.

OJH19 – still looking very weak. Perhaps weaker than other soft commodities.

CTH19 – Good bounce from cotton, some newsletters mentioning to go long on a higher low.

LSH19 – I have been waiting on 300 for the price of lumber to reach but it’s possible though we may have just seen a higher low. I’ll only know once we reach the previous short term High around 375.

ZWH19 – still sideways.

ZCH19 – no real pattern aside from a broad range trading between 400 and 360. So that would say buy at 360 and sell at 400.

ZSH19 – still long from 886 1/2 and the price is now approaching the 200 day moving average so because I only have one unit it’s a question of do I take profit from here or do I wait to see if there is a breakthrough? There is a previous major low at 926 from June 2017. So the higher percentage play would be to stick to the original plan and take profit at 931.

ZMH19 – indecisive

ZOH19 – nothing at the moment for me. Price is being being supported at the 100 DMA which is possibly a good sign – this is the first time since September the price has broken through the 100 DMA which was back at 254. Probably worth buying some 300 strike call options with a couple of months to expiry.

RSH19 – the price bounced off 470 again

CLG19 – oil seems extended to the downside, judging by the 200 day moving average being more than 19% above the current price so I’m just going to buy call options expecting some mean reversion, now that the price has stabilised sideways for about a week.

NGG19 – after the mayhem of that short option unwind the price has come all the way back to the long term low at 2.82 odd, with the upside on that range at 3.25, so now a short term bottom seems to have formed I expect getting long is not so unreasonable. A more significant long term low is at 2.50. Considering that I would be smarter to be more patient.

LEG19 – false break for now. waiting to see what happens next.

DYH19 – any chance I get to sell near the 40 day moving average I will be taking. I haven’t got anything so far.

ESH19 – definitely looks like we are going to get a chance to sell at the previous support level 2600.

NQH19 – definitely looks like we are going to get a chance to sell at the previous support level 6500.

Action:
– after writing each entry, check whether I need to add an action to my list
– copper HGH19 short positions either through options or outright. If outright what level is appropriate.
– review my daily journal for action items I have missed before sending it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s