Dec4 – Market Analysis

Personal observations

Took a short holiday in Barcelona, in fact in a small town near there.  Did not pay ANY attention to the market over the last four trading sessions.  Was a nice change.  Last night I had a skype session to talk about the JBT trading.

It seems like more people are looking at my blog.  The stats for whilst I was away really increased for some reason! Nice.

The remaining three trading sessions are going to be touch and go.  Tomorrow is racquetball with Z, and Friday I am planning to check out the potential trading offices in Old Street and Oxford Street, together with three other FX traders.  I will try to push that to after the London JBT session.

It was a bit wobbly with the JBT session this morning because I still have not regained my confidence with the strategy from last week.  I have decided that I will just continue with £100 risk per trade and follow JB as much as possible.  Let’s see how December goes.

In the end, November turned into a terrible month as far as results are concerned: 2x GAMBLE! -0.94R,  85xJBT          -0.44R, 9xS3 -1.36R and 1x STAM -0.90R – so all in all 97 trades losing 3.64R.  Insane!

Equity Markets & Gold

European markets took a tumble yesterday, with many of them retracing more than 2%.  I noticed gold has fallen to $1,215 – it was $1,240 before I went on holiday!  I will take a look at those markets for STAM purposes.  Clearly the pullbacks yesterday could give rise to entries on the 1H or 4H charts for the indices.

Weekly Momentum update (normally done on Monday)

NZDJPY was the only pair that changed in weekly momentum.

STAM Analysis

  • No significant changes since last doing the STAM ratings on Wednesday last week.
  • The strong currencies are: EUR, CHF and GBP
  • Neutral: USD, NZD
  • The weak (or weakening) currencies are: AUD, JPY, CAD
  • All the Yen pairs (5 of them are in S1, but disregard CADJPY) are currently pulling back a bit – they have been doing that for the past two days.  Need to await bullish price action on the 4H chart before going long.
  • Aussie dollar pairs (AUDUSD, EURAUD, GBPAUD, AUDCHF) – wait for pullback and then appropriate 4H price action.
  • NZ dollar pairs – pullbacks have occurred, wait for appropriate price action
  • GBPCAD – waiting for decent pullback.
  • GBPCHF – pulling back, but both of these strong, so don’t trade them against each other
  • USDCAD – no pullback at this stage

S3 Analysis

Following last skype discussion with my coach, he told me not to worry about the S3 analysis for indices if it was too much time (though I should continue looking at them for STAM purposes)

Only one currency pair had a change in weekly momentum last week (NZDJPY).  Consequently the number of pairs of S3 potential have now reduced to 21, however only a handful of those are not in either S1 or S2.

Checked through the few eligible pairs and concluded that there are no S3 setups at the moment.

 

Next action

  • Check AUD and NZD pairs at 3pm to see whether a valid setup is in place.
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One Response to Dec4 – Market Analysis

  1. 3pm update: nothing doing on the AUD or the NZD pairs.

    Like

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