Fx futures Journal

My my that's a large bearish divergence with RSI on hourlies with respect to GECM6

 

I began the scale in selling of OTM 126 calls in GECM6 today. If prices rise, I will be scaling in also at higher strikes in increasing numbers.

 

Are there any other bingos?

 

yes yes yes. Had to survive a bounce first but there it is.

 

Time for a quck breather here in GEC. Market shows signs of support on hourlies with the bullish divergence in RSI. A long trade here needs a relatively tight stop. I'll maintain the short 126 calls for now by themselves.

 

Still short the 126 GECM6 calls. This is the only currency trade on right now.

 

With regard to GEC

Trade on Thursday created a bearish divergence with MACD and RSI on daily continuation charts. I would be cautious with a long entry just now. The low today hit the 20 day, so there is always a chance that it won't go through. I am targeting 119.60 initially.

 

Important to have a close below 121.45 today.

 

I am still bearish the Euro fx (GEC). I am still short the 126 calls here. Raised the initial target here for the futures to 120.00

We've closed below the 20 day and that is bearish-- at least to me. If I was short the futures, my stop would be at 122.84. Iwould not build a short here like I have been doing in ES.

 

GAD and GCD are beginning to show signs of weakening technicals. A bit premature here to short the futures. I may begin selling out of the money Canadian calls very shortly perhaps tomorrow.