I trade yens predominately.

Mostly the EY, GY, and UY whilst keeping an eye on the NY and CY too.

My view is trendlines and support and resistance alone. No news nor indicators or analysis other than the current trend couple with S/R on the hourly TF alone.

I am a masochist workaholic or just love the challenge and study of the markets and its players but I trade 24/5 and rarely out of the markets.

I trade through currenex with Capital...

Todays shenanigans feel a little overdone to me. This payrolls story is quite possibly one that will turn into a damp squib by next month.

I am informed that the differences in calculation method between the state by state approach and what the BLS will see for the usual NFP make a 130k+ revision (which is what has been touted this afternoon and been blamed in no small part for this capitulation by the greenback) by no means certain. For sure it means that people will again get all...

Well I currently have been posting this blog at another forum but will be moving here after numerous people recommended I do so. I have made a pdf of the journal from the other forum and added it to this post. I'll be continuing my journal where this one left off.

Edit: It seems I can't get the pdf attached through here so I'll look for somewhere else to distribute it.

The old journal can be found here: Jay's Journal

Offsetting Positions

This has come about as I have been assessing my lack of locking in profits. A number of times now I have been trailing my stop in possibility of making further gains. The problem for me lies in the fact that I am not strong in trend analysis. By that I mean, I cannot look at a current trend and say it is likely to reach X price because of factor X, Y and Z.

What I can do however is look at a market after it has trended and say it is likely to turn...

Price opens at 1339 and rises to midpoint and then higher- rejected at 1344 and falls down. 9:52 price falls to 1336 but $Tick stays up. Price rises to 1340 and falls back to 1333 with TD, but lots of volume ( interest). 10:07 test of bottom on lower volume, but volume still relatively high. Note: on 10 min chart bars are in downward move therefore will draw a supply line on 1 minute chart.
10:10 we go lower just for a minute
10:11 quick move up
10:13 downward force to...