waf_1988 Trade Journal
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thread: waf_1988 Trade Journal

  1. #1

    waf_1988 Trade Journal

    This really is a trading journal, just in case if I am looking for motives.
    I'll concentrate my trading in USD/JPY pair...

  2. #2
    The pair shoots the sky after positive noise from China... Don't know that the market is expecting this kind of news affecting the pair... What a pity....TT





    July 1 (Bloomberg) -- The yen weakened against the euro and the dollar after a report showed China's production enlarged for a fourth month, damping requirement for the comparative security of Japan's currency.
    The yen also fell against 15 of the 16 most-traded currencies after a Australian report showed retail sales climbed for a third month, providing investors more confidence to buy higher-yielding assets. South Korea's won obtained for a second day as a government report showed exports dropped at the slowest pace in eight months, adding to signs the global recession is easing.
    ”China's PMI seems to be having a negative impact on the yen,” said Akira Hoshino, chief manager of this foreign-exchange trading division in Tokyo at Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan's largest lender by market value. ”Risk-taking appetite is apparently returning a little. The yen has been sold”
    The yen dropped to 135.80 per euro as of 10:41 a.m. in Tokyo from 135.21 at New York yesterday. It weakened to 96.95 per dollar from 96.36. The U.S. currency traded at $1.4007 versus the euro from $1.4033. The won advanced 0.2 percent to 1,271 versus the dollar.
    China's Purchasing Managers' Index rose to a seasonally adjusted 53.2 at June from 53.1 in May, the Federation of Logistics and Purchasing said today in Beijing in an e-mailed statement. A reading over 50 indies an expansion.

  3. #3
    As the effect of placing S/L [96.60 - 97.00], the trade was stopped-out of this market. It is a terrible trade, understanding taken.

  4. #4
    As I waiting for the launch of US payroll data elsewhere, there's some data that might impact the tomorrow's likely result:

    ADP Non-Farm Employment Change is WTA
    ISM Manufacturing PMI is AE
    Pending Home Sales m/m is WTA
    Construction Spending m/m is WTA
    ISM Manufacturing Prices is BTA
    Crude Oil Inventories is AE
    Total Vehicle Revenue is AE

    These data supports what I previously mentioned about the chance of USD to acquire negative data.

  5. #5
    As of writing, the USD/JPY is now quoted @ 95.40 degree, that's the amount I was targeting at the first place...
    I'm not really amused to the news affection on the pair, I should have moved the S/L degree to 50 percent - 61% Fibonacci Retracement (around 97.25-97.60 as of previous available trade) instead of ranging the S/L and T/P in between 38.2 - 50 percent...

    I will do better in another trade perhaps...

  6. #6
    Following a strike of favorable information in US, the pair rebounds from 91. Xx level and now is traded at level 94. Xx
    With my installation, I have the picture of this pair approaching 50% Fibonacci Retracement level and yet, I doesn't (at the present time of writing)...

    Traded short for the pair:
    OP: 94.65
    TP: 93.17
    SL: 95.60

  7. #7
    TP @ 93.17 is struck today, fine profit for 158.85 points, type of healing for my prior loss (-73.20 @ SL). . So, overall, I still have profit 85.09 pips nett.
    Nice trade, and pleasant call for position really, now I am off the market, awaiting the next opportunity.
    Happy trading...

    Following a strike of favorable information from US, the pair rebounds from 91. Xx amount and now is traded at level 94. Xx
    Using my installation, I got the picture of the pair approaching 50 percent Fibonacci Retracement level and I really doesn't (in the present time of writing)...

    Traded short for the pair:
    OP: 94.65
    TP: 93.17
    SL: 95.60

  8. #8
    It seems that after yesterday's low @ around 93.08, USD/JPY is now retracing back to 94. Xx level (again)... Kind of chy, I chose to stay off the market and await a breakout because the level is proven strong enough to hold the pair in range...

  9. #9
    I believe the USD/JPY is currently in overbought. . I will stay away from the US session and search for a different prospect of going into the market...^^
    Joyful trading...

  10. #10
    I believe my 50 percent Fibonacci serves as a good resistance by which holding the pair for a while until recently... I will try to short the pair for some pips but if the market wants to prove me wrong, I've my stop loss collection. I will be seeing this commerce carefully, I will set two goal profit points:

    OP = 95.30; 94.47
    TP = 94.96
    SL = 96.00

    Kind of weird to start a short after good information from US (Nice new house sales only been released about 2 hours ago).
    I will take this chance anyway...^^

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