Coming to the charts a little late this morning and finding EVERYTHING in clear directional moves (CDMs)  As @RichKay said on twitter “All in CDM. How do I decide which pairs to take?”.

I’m finding the Advanced Currency Meter indicator (see yesterday’s post to be a help in that regard.  I’m taking pairs that are at opposite ends of the scale. I’ve got open trades in CADJPY and GBPUSD, and pending orders in USDCAD and EURUSD.

But it’s early. Now if we can just get some follow-thru on those moves, it could be a very nice day. As Kim says, “#weneverknow”.  Starting the morning down <19> on the week, and <202> on the month, and I won’t be trading tomorrow.

Entered USDCAD long on the pullback.  The pullback continued through the YL by several pips, so we’ll have to see what happens.

The CAD developed some new strength, and resulted in the CADJPY stopping out for <12.0>.

Took the GBPJPY long on a YL entry, but it was short lived.  It was stopped out on a surge of Yen weakness for <12.1>, and then the USDCAD trade was stopped out a few moments later for <10.0>.  Suddenly down <34.1>, and NYC isn’t even open yet.  The dangers of starting early, even when it looks like everything is good.

Still holding GBPUSD, which is also in negative territory. One thing is good – I had a pending on the EURJPY that was triggered by that same yen spike, but it didn’t fill because of margin requirements.  And it would now have been stopped out as that candle became a CO.

And the GBPUSD stopped out as well.  0 for 4 this morning, flat and down<44.1>.

Wow – the CAD was near the bottom of the strength chart, now it’s at the top!  USD and JPY were at or near the top, and now they’re in the middle. And the GBP, though still near the bottom, has doubled in strength.

I missed good re-entries on EURUSD and GBPUSD through inattention and skepticism about the complete reversal of the trends this morning. Time will tell whether they would actually have been good trades (or not!).

I’m standing aside until the crude oil inventory news at 9:30.

Took CADJPY short on the news, which did develop some follow through, but it didn’t last.  It did last long enough, however, to move my protective stop up to lock in a 1:1 reward, and that’s where it got hit for +12.0.  So I am now flat and down <32.1>.

I’m going to reassess the market and look for some possible re-entries. Kim locked in at least +20 on EURJPY re-entry. GBPJPY also would have been nice – now down 25 from a theoretical YL re-entry.

I found a YL and entered the renewed downtrend in the EURJPY. When I entered, JPY was at the top of the strength list, and EUR was at the bottom. They are still near the extremes, but have moved away from the top spots a little.

The yen continued losing strength, and the EURJPY stopped out for <10.3>.  In the meantime, I had hit a YL entry on the CADJPY. So I’m now down <43.1>, and holding CADJPY which is down <8> at the moment (10:33).

The CADJPY trade meandered around for a few candle, all in negative territory, then stopped out for <12.1> when the yens lost strength. Now flat and down <54.2>.  Gonna watch a bit, but may stand aside until FOMC.

After about 5 minutes into the news, I took EURUSD long.  It did go up about 8 pips, but then pulled back.  I punched out for <5.5> before it could take me out for a full stop.

That’s it for the day and the week.  Here’s the stats:

Day: Net <60.0> On 8 trades, 1 win/7 losses for -2.74%.

Week: Net <79.0>, -3.29%

MTD: Net <262.8>, -11.14%.