Well I don't know about anyone else but I have had a pretty crappy week. Most of it not trading but the markets haven't helped. Anyway in the words of the song its just an ordinary day and its just my state of mind.
I have a daily hammer against my Gold short but I am holding on to it because we are below the daily trendline and I believe the resistance level at 1117 will hold. Closing half to pay for my stop helps.
Continentals (GBP EUR CHF) are moving this morning, and if EURJPY clears the potential resistance at 124.37 then it looks good for at least 127 All the XXXJPY's need to clear highs of two weeks ago but the price action looks promising.
I still see best potential in EURUSD, USDCHF and Cable.
US Crude had its narrowest range day this year I think. Saving up some energy for breakout hopefully. I will trade it either way but $85 still looks inevitable.
The key to what happens later will be the indices in the US session. The S&P futures shot up to new yearly highs after the close so it looks inevitable the cash price will rally. But if price fails to either get above or hold above there then everything could stall and we will have inside bars everywhere and another week of indecision.
USDCHF short 1.0670 stop 1.0710PT 1.0550 / 1.05
USDJPY short 0.9050 stop 0.9075 PT 89.50 - 4hr IB countertrend
CRUDE long 82.40 stop 81.90 break of daily IB
USDCHF closed 50% @3R 1.0580 (+1.5R)
GBPJPY closed 50% @3R 136.90 (+1.5R)
CHFJPY long 85.25 stop 85.10 PT 86 - 4hr teenie bar
USDJPY short stopped out (-1R)
GOLD short 1117 stop 1120 addition
CRUDE stopped out (-1R)
GBPJPY long 137.80 stop 137.40 addition, 4hr inside bar
CRUDE short 82.00 stop 82.30 PT 81.00
GBPJPY addition stopped out (-1R)
CRUDE short closed 50% @3R 81.10 (+1.5R)
GOLD short 1117 stop 1122 - 1/2 & short 1117 stop 1120
GBPJPY long 135.70 stop 135.30 - 1/2 & long 137.80 stop 137.40
USDCHF short 1.0670 stop 1.0710
CHFJPY long 85.25 stop 85.10
CRUDE short 82.00 stop 82.30
I took USDCHF instead, but will take this one too next entry or a break / retest of 138.
I am still bearish. I know this isn't popular with anyone else but I am OK being wrong :) Until we break out of the big daily descending channel I am selling rallies.