Futures trading journal - GB

[Gringotts Bank]

+30

at the line finally after 3 attempts.

 

[Gringotts Bank]

L 4244
T 4267

Strong move above resistance.

 

[Gringotts Bank]

Momentum stalled.

+16

 

[Gringotts Bank]

Gold

L 1958
T 1969-ish

 

[Gringotts Bank]

Gold out 1961. Don't trust it.

+30

ES: daily imbalance level hit. Not sure what comes next price wise. PMI at midnight.

 

[Gringotts Bank]

Actually it just fell short of the imblance, so...

Short ES. Will hold into news. Moved stop to BE.

 

[Gringotts Bank]

BE on the short and daily imbalance mined!

Will be another short tonight, I think.

Should have held my gold, eh. Huge move.

 

[eskys]

All three major gold miners are down at time of writing.

RBA decision at 2.30pm.

Here's a snippet of past history of rate decision from Market Index:

ASX 200 on Rate Decision Days​

A quick recap of one of the points from Monday's Evening Wrap. The RBA started its hiking cycle last May, so let's take a look at how the market tends to perform on rate decision days (number of occurrences against expectations and average performance).

• Larger-than-expected (3): -0.95%
• In-line (8): +0.13%
• Smaller-than-expected (1): +3.48%

On 2 May, the RBA hiked by 25 bps to 3.85% vs. expectations of a pause. The ASX 200 sold off pretty hard on the news at 2:30 pm AEST and fell as much as 2.6% over the next three sessions (inclusive of the rate decision date

 

[Gringotts Bank]

L 4285.75

 

[Gringotts Bank]

+40

 

[Gringotts Bank]

L 4293.25

 

[Gringotts Bank]

+40

Not sure how much more upside there is. There might be another short opportunity tonight.

Short 4299.5 (edited - wrong number)
T 4289

 

[Gringotts Bank]

Got out of short with a few ticks. Too hard when it's volatile like that. Looks like it will hit my target now.

Crazy - 40 ticks on offer and I wouldn't have even gone into drawdown.

 

[Gringotts Bank]

Bear flag. Not looking great atm.

 

[Gringotts Bank]

Not anticipating an easy session tonight. Think it might be sideways and a bit volatile at times.

 

[Gringotts Bank]

L 4271.25
T 4282.25

Might take a while to play out.

 

[Gringotts Bank]

Here comes the volatility.

Shifting my target down to 4279.75. That push up was quite weak.

 

[Gringotts Bank]

Can't be bothered with this volatile movement in a bull market. To me it means the banks have a low commitment to either side and they're just trying to feel out other market participants.

+16

 

[Gringotts Bank]

20m TF. The double top has broken down. If it reaches its short target, it would be all the way down at 4244.25 (just below the old weekly imbalance level).

I think that might happen next week. New York City being shrouded in a haze of red due to the Canadian fires is very symbolic. Most people call that woo-woo. I do not.

Trying to find a short entry.

 

[Gringotts Bank]

L 4271.25
T 4282.25

Might take a while to play out.

It did take a while, and it did play out with minimal risk despite the volatility. Should have stuck to my guns, but it would have meant a lot of screen time.

Short 4278