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Muttoez Trading Journal
Started:April 1st, 2016 (08:47 PM) by muttoez Views / Replies:8,553 / 286
Last Reply:December 4th, 2016 (03:17 AM) Attachments:5

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Muttoez Trading Journal

Old October 16th, 2016, 06:05 AM   #261 (permalink)
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Week in Review - 10 - 14 October Pt II

Below are my comments on other opportunities I am watching.

CL – Crude Oil

Oil broke out sharply on Monday but was unable to push any higher for the remainder of the week. At this stage it appears that the 61.8% retracement level has been surpassed and I am looking for an opportunity to take a position.

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ZN – 10 Year Note

The 10 Year Note traded down to the 200 SMA this week but held above this level. If prices trade down through the 200 SMA and the 61.8% retracement level it may provide a good selling opportunity.

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DX- US Dollar Index

The US Dollar surged higher this week and traded above the 61.8% retracement of the recent range. Prices have not yet confirmed a break of this level but if they do it may present a good buying opportunity.

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KC – Coffee

Coffee surpassed the 61.8% retracement of the recent corrective range on Monday and finished the week strongly to confirm the break. Unfortunately, I was too busy with other trades this week and missed the re-test of the 61.8% retracement level on Tuesday and Wednesday which provided a good entry opportunity. At this stage it looks like I’ve missed this trade.

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Old October 16th, 2016, 06:06 AM   #262 (permalink)
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Week in Review - 10 - 14 October Pt III

Below are comments on other markets of note.

ZC – Corn

Corn traded back down through the neckline of the potential head and shoulders bottom during the week but finished the week strongly and looks to have re-confirmed the completion of this pattern.

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SB – Sugar

Sugar prices continued to struggle to surpass the 161.8% extension level this week but there is still no evidence that the uptrend has ended.

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SI – Silver

Silver continued lower this week but held above the 200 SMA.

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HG – Copper

Copper traded back up to the 61.8% retracement level at the start of the week but reversed from this level and traded back down through the 200 SMA at the end of the week.

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Old October 17th, 2016, 07:02 PM   #263 (permalink)
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Review of October 17 Trading Action


I re-entered a long position in Soybean Oil today.

GE – Eurodollar

Trade: Short 10 contracts of December 2016 Eurodollar
Average Entry Price: 99.065
Risk: 99.10 risking $750
Target: Short term - 98.30, Long Term – 97.90

Daily Comment: Eurodollars continued higher today posting a bullish candle but remain in the recent range.

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QO – Mini Gold

Trade: Long 1 contract of December Mini Gold
Entry Price: $1,258.50
Risk: $1,242.75 risking $787
Target: Long Term $1,619

Daily Comment: Gold finished higher today posting a bullish candle and continues to hold above the $1,250 level.

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ZL - Soybean Oil

Trade: Long 2 contracts of December Soybean Oil
Average Entry Price: $0.3547
Risk: $0.3495 risking $625
Target: $0.4315

Reasons for entering the trade:

Technical: Prices surpassed the neckline of a potential 2 year + head and shoulders bottom pattern.

Fundamental: Supply issues with competing vegetable oils have been driving Soybean Oil higher.

Daily Comment: Soybean Oil surged higher again today posting another bullish candle. I took an entry intraday when prices moved above the neckline and then added to the position near the close when it was confirmed that prices were going to close above the neckline. The wide body of the bar today made the stop placement difficult so I’ve set the stop based on the low of the bars prior to the break above the neckline on an hourly chart.

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Below are the comments on the opportunities I’m watching.

HE – Lean Hogs

Hogs fell sharply today posting a bearish full bodied candle. I had an order up at the 20 SMA but prices did not get high enough to fill my order before falling. I should have just entered at the open when prices were at the 261.8% extension level.

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NG – Natural Gas

Natural Gas continued lower today but finished the day off the lows posting a candle with a lower shadow.

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CL – Crude Oil

Oil traded both higher and lower today posting an indecisive doji candle.

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Old October 18th, 2016, 06:18 PM   #264 (permalink)
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Review of October 18 Trading Action

I was stopped out of my long position in Soybean Oil and re-entered a short position in Lean Hogs today.

GE – Eurodollar

Trade: Short 10 contracts of December 2016 Eurodollar
Average Entry Price: 99.065
Risk: 99.085 risking $475
Target: Short term - 98.30, Long Term – 97.90

Daily Comment: Eurodollars finished the day slightly higher but remains in the recent range.

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QO – Mini Gold

Trade: Long 1 contract of December Mini Gold
Entry Price: $1,258.50
Risk: $1,242.75 risking $787
Target: Long Term $1,619

Daily Comment: Gold was higher today but finished off the highs posting a candle with an upper shadow but still remains below the 200 SMA.

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ZL - Soybean Oil

Trade: Long 2 contracts of December Soybean Oil
Average Entry Price: $0.3547
Exit Price: $0.3495 risking $625

Trade Comment: At this stage it looks as though my stop was a little bit too tight and I really should have been applying the stop on a closing basis. It was always a strong possibility that prices would pause after two very strong days in a row and I probably rushed a little bit to enter a position. I would have been better served waiting a few days for prices to consolidate and then enter on any further strength.

Daily Comment: Soybean Oil was higher during the overnight session making new highs for the move before turning lower and trading back down through the neckline. Prices finished the day off the lows posting an indecisive candle.

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HE – Lean Hogs

Trade: Short 1 contract of April Lean Hogs
Entry Price: $0.5690
Risk: $0.5920 risking $920
Target: $0.50

Reasons for entering the trade:

Technical: Prices turned back lower after intersecting with the 20 SMA for the first time during the recent corrective price action. I entered the April contract as it offers more potential to the downside than the closer contracts.

Fundamental: Herd expansion and ample supply of both hogs and competing meats have been pushing prices down.

Daily Comment: Hogs continued lower today posting another bearish candle. If prices can trade down through the 261.8% extension and the 61.8% retracement of the recent corrective range I may add another contract. My stop is outside of my normal risk tolerance levels because of the late entry and I will be looking to move the stop down quickly if the position moves in my favour.

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Below are the comments on the opportunities I’m watching.

NG – Natural Gas

Natural Gas traded higher today but closed well off the highs posting a candle with an upper shadow.

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CL – Crude Oil

Oil was higher today posting a bullish candle and continues to hold above the psychological $50 level.

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Old October 19th, 2016, 07:09 PM   #265 (permalink)
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Review of October 19 Trading Action

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I added to my short position in Lean Hogs today.

GE – Eurodollar

Trade: Short 10 contracts of December 2016 Eurodollar
Average Entry Price: 99.065
Risk: 99.10 risking $750
Target: Short term - 98.30, Long Term – 97.90

Daily Comment: Eurodollars were lower today but finished off the day’s lows posting a candle with a lower shadow.

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QO – Mini Gold

Trade: Long 1 contract of December Mini Gold
Entry Price: $1,258.50
Risk: $1,242.75 risking $787
Target: Long Term $1,619

Daily Comment: Gold was higher again today but finished off the highs posting a candle with an upper shadow. Prices closed back above the 200 SMA for the first time in 2 weeks and the chances of prices going higher are starting to improve.

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HE – Lean Hogs

Trade: Short 2 contracts of April Lean Hogs
Average Entry Price: $0.5655
Average Risk: $0.5780 risking $1,000
Target: $0.50

Daily Comment: Hogs initially traded higher before turning lower and closing below the 61.8% retracement and 261.8% extension levels posting a candle with an upper shadow. I moved my stop on the original position down to the stop level using the 61.8% retracement level.

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Below are the comments on the opportunities I’m watching.

ZL - Soybean Oil

Soybean Oil was lower during the overnight session but bounced from around the 35 level again to finish the day slightly higher and close back above the neckline.

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NG – Natural Gas

Natural Gas was sharply lower today but held above the recent highs at the close. Prices have bounced from this level previously and it may be a good area to enter but I won’t be trading Natural Gas until after the storage data release tomorrow.

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CL – Crude Oil

Oil was sharply higher today after the storage data release posting new highs for the move but finished the day off the highs posting a candle with an upper shadow.

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Old October 21st, 2016, 01:22 AM   #266 (permalink)
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Review of October 20 Trading Action

No trades today.

GE – Eurodollar

Trade: Short 10 contracts of December 2016 Eurodollar
Average Entry Price: 99.065
Risk: 99.10 risking $750
Target: Short term - 98.30, Long Term – 97.90

Daily Comment: Eurodollars fell from the top of the recent range today posting a bearish candle.

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QO – Mini Gold

Trade: Long 1 contract of December Mini Gold
Entry Price: $1,258.50
Risk: $1,242.75 risking $787
Target: Long Term $1,619

Daily Comment: Gold was unable to hold above the 200 SMA closing below this level today and posting an indecisive candle. It appears that the US Dollar is breaking out to the upside which is likely to be negative for Gold so I will move my stop to break even tomorrow.

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HE – Lean Hogs

Trade: Short 2 contracts of April Lean Hogs
Average Entry Price: $0.5655
Average Risk: $0.5780 risking $1,000
Target: $0.50

Daily Comment: Hogs traded back up to test the underside of the 61.8% retracement level during the session but finished the day back at the lows posting a candle with an upper shadow.

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Below are the comments on the opportunities I’m watching.

ZL - Soybean Oil

Soybean Oil traded back down through the neckline posting a bearish full bodied candle.

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NG – Natural Gas

Natural Gas was lower today traded back down through the support of the recent highs but bounced from the 20 SMA to finish the day off the lows and post a candle with a lower shadow.

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CL – Crude Oil

Oil reversed the positive price action today trading sharply lower and posting a bearish full bodied candle.

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DX – US Dollar Index

The US Dollar surpassed the 61.8% retracement of the recent range today posting a bullish full bodied candle.

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Old October 21st, 2016, 06:52 PM   #267 (permalink)
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Review of October 21 Trading Action

No trades today.

GE – Eurodollar

Trade: Short 10 contracts of December 2016 Eurodollar
Average Entry Price: 99.065
Risk: 99.10 risking $750
Target: Short term - 98.30, Long Term – 97.90

Daily Comment: Eurodollars were lower again today finished off the day’s lows to post a doji candle with a lower shadow.

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QO – Mini Gold

Trade: Long 1 contract of December Mini Gold
Entry Price: $1,258.50
Risk: $1,258.50 risking $0
Target: Long Term $1,619

Daily Comment: Gold traded lower today but finished the day off the lows posting a candle with a lower shadow. Gold prices held up well today despite the strength in the US Dollar.

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HE – Lean Hogs

Trade: Short 2 contracts of April Lean Hogs
Average Entry Price: $0.5655
Average Risk: $0.5780 risking $1,000
Target: $0.50

Daily Comment: Hogs were higher today trading back up through the 61.8% retracement level and posting a bullish candle. However, prices still remain below the falling 20 SMA.

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Below are the comments on the opportunities I’m watching.

ZL - Soybean Oil

Soybean Oil traded lower today but finished the day well off the lows finishing the day slightly higher and posting an indecisive candle.

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NG – Natural Gas

Natural Gas prices collapsed today posting a bearish full bodied candle and closing below the short and medium term moving averages.

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CL – Crude Oil

Oil continued lower during the overnight session before reversing to finish the day higher posting a candle with a lower shadow.

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DX – US Dollar Index

The US Dollar continued higher today consolidating the break above the 61.8% retracement level and posting another bullish candle.

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Old October 23rd, 2016, 05:07 AM   #268 (permalink)
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Week in Review - 17 - 21 October Pt I

Trades for the week:

- Entered and stopped out of a long position in Soybean Oil
- Re-entered a short position in Lean Hogs.

I’ll start the weekly update with comments on my open positions and closed trades.

GE - Eurodollar

Eurodollars traded back up to the top of the range again at the start of the week before turning lower and finishing the week back down near the bottom of the range.

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GC – Gold

Gold traded back up to the 200 SMA this week but was unable to close back above this level at the end of the week.

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HE – Lean Hogs

Hogs fell sharply early in the week before pausing and finished the week strongly. However, prices are still trading below the 20 SMA and the fundamental picture is still bearish.

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ZL – Soybean Oil

Soybean Oil broke up through the neckline of the head and shoulders bottom pattern at the start of the week and then traded above and below this level for the remainder of the week. I was too quick to try and enter this trade and on review I believe I entered without proper confirmation of the patterns completion.

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Old October 23rd, 2016, 05:08 AM   #269 (permalink)
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Thanks: 12 given, 103 received

Week in Review - 17 - 21 October Pt II

Below are my comments on other opportunities I am watching.

NG – Natural Gas

Natural Gas prices collapsed this week trading lower in 4 out of the 5 sessions and finishing the week down sharply. At this stage it looks like taking a quick profit at the 161.8% extension level was the right decision.

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CL – Crude Oil

Oil prices were higher in the middle of the week after the storage data but fell back to end the week practically unchanged. The 20 SMA has now moved up through the 61.8% retracement level and I am monitoring this level as a possible place to enter.

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ZN – 10 Year Note

The 10 Year Note bounced from the 200 SMA at the start of the week and then drifted sideways for the rest of the week. If prices can break the 200 SMA it may be a good short opportunity.

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DX - US Dollar Index

The US Dollar broke out sharply at the end of the week surpassing the 61.8% retracement of the recent range with impulsiveness and implying a potential target at about 107.40.

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Old October 23rd, 2016, 05:10 AM   #270 (permalink)
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Posts: 288 since Mar 2016
Thanks: 12 given, 103 received

Week in Review - 17 - 21 October Pt III


Below are comments on other markets of note.

KC – Coffee

Coffee continued higher early in the week before pausing at the recent highs and trading back lower to finish the week only slightly higher.

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ZC – Corn

Corn traded sideways this week staying in a small range between 3.50 and 3.60.

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SB – Sugar

Sugar was lower this week but found support at the 22.50 level to remain above the 40 SMA.

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HG – Copper

Copper continued to drift lower this week after trading down through the 200 SMA last week but each daily candle was indecisive.

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