Traderdesk journal

[TraderDesk]

April 22 2013:

Monday morning and a gap in the GBP/JPY pair as well as other xxx/JPY crosses... Usually I see at some point PA reverting to the pre-gap point before going on a trend so I will keep that tidbit of info as part of my trading logic for the day....

15 minute chart does show this morning the first attempt at achieving a lower price where the gap occur so opening a position there might be a possibility. I will start to open more positions once I see PA above the 15 TF HA line later today if/when it occurs.

Long-term bias is bullish... Daily ADR is around 154 so I might have positions TP below 154 with a close watch if 100 USD/JPY breaks how many stops are triggered.... ADR low is around 150...

GBP/USD is showing a buy on the 4 hour chart so I will keep an eye out there as well. If it starts to go bullish than a bullish influence on GBP/JPY pair should be the result.

gbpjpym152204.png

[TraderDesk]

So far PA is staying above the 30 minute HA which shows an intraday bullish bias so I am playing my positions accordingly... PA targets are still the same for TP which is at around 144.80 - 145.00

usdjpym302204.png

[TraderDesk]

April 29 2013:

Morning. Been busy so had not a chance to post last week.

I am trying out the new template that Bob has put out on his thread. The only thing I have added is my trusty old Heiken Ashi indicator.

Below chart is the 30 minute TF as I want to get a feel for the current intraday trading snapshot. PA is right at the HA line so we are either at a new shot downwards or the beginning of a new swing trend upwards...

As PA is still above the 240ma line as well as the 4 hour Heiken Ashi line then a good swing trader would look to be buying soon WHEN the confirmation signal is given.

If you are trading a shorter timeframe then a sell position could be initiated here with a short S/L above the HA line for a good R/R trade...

eurjpym30-april29.png

[TraderDesk]

Now I see the beginning of a intraday change if the bar can close above the HA line. This should soon start to reflect a change on the 4 hour chart slope as well if it continues...

eurjpym30-april29part2.png

[TraderDesk]

May 6th 2013:

Here is a 4 hour chart with some buy levels.... Expecting retracement with the idea of a good trend up afterwards...

5-6-2013 1-24-52 PM.jpg

[TraderDesk]

May 7th 2013:

The retracement from yesterday is still in progress with GBPJPY so I will post a 30 minute TF to see where PA is at the moment with some levels to place buy-stops and limits.

PA is currently in a bear channel and moving slowly down. For a resumption of the bull move I am waiting for price to break and stay above the HA line as well as the upper channel line...

Buy-stops should be place above on daily pivots as well as limits further down. A major resumption area for new positions is set for the 152.50-70 area. This is where a good R/R will occur...

5-7-2013 12-11-59 PM.jpg

[TraderDesk]

May 8th 2013:

Yesterday's chart I was looking for price action on the GBPJPY 4 hour chart to go for 152.50-70 area. Price has touched the 152.70 level before popping back up to 153.50 and is now around 153.15. By the speed it retraced back up I would say other institutions were there with buy limits orders as well.

Today newswise is not that eventful like tomorrow.

My trading strategy is to just stay with what I have already set. Buy-limits at 152.60 area as well as 151.90/152.10.

If/when price action breaks above the WP level I will look to start adding buy-stops at daily pivot areas once again...

5-8-2013 7-19-43 AM.jpg

[TraderDesk]

I am watching the JPY crosses and there are almost all looking ready for a resumption of a bull run. RSI2 have bottom out and some of them have STO5 below 20 as well...

Daily CSS is still showing JPY weakness.

AUDJPY is one to be careful since AUD is the weakest in the bunch but even that is starting to show a slowing downing of this latest bout of weakness..

5-8-2013 8-59-51 AM.jpg

[TraderDesk]

GBPJPY intra-day outlook -

Bias is still bearish at the moment. PA needs to go above and close the channel line...

5-8-2013 9-33-30 AM.jpg

[TraderDesk]

Hmmm... If the 4 hour bull trend is to resume I am looking to paint a target for taking profit at 155.80-00 level and 15630-50 level... I will cal for a high of 156.30-40 area

If USDJPY breaks 100 then the 157 level looks attractive...

I am looking for a high price in the 1200-1600 GMT 4 hour bar tomorrow bar May 9th...

This is just a probability but one that I have at a higher percentage in various bull scenarios...