Trading Journal – 7th September

DXU18 – In the early hours of the photo session the US dollar index look like at 94.87 that it was heading down towards a 93.96. However it has since rallied up through my stop at 95.02 and I am now flat. Not a great outcome so I’m just going to watch until I can see something that looks a bit more skewed in my favour.

GCZ18 – Gold is perhaps looking slightly more bullish than the US dollar index is looking bearish but still basically trading the same rhythm. Nothing to do for me here.

KCZ18 – Coffee just might go on to step up from here but again it’s all quite uncertain for me at the moment.

ZWZ18 – I went short in the December week contract at 510 1/4 with a stop at 513. I haven’t been stopped out yet unlock my US dollar index position so I’ll just sit on that one until I either get hit at 500 or if it settles in between I’ll just close it out before the end of session.

CCZ18 – Cocoa is still looking weak with the rally so far being quite feeble in the Friday session. My instinct is it’s going to go lower from here if we don’t see something dramatic soon.

SBV18 – Sugar is building for a push through the $0.11 mark and on a pop could March all the way up to $0.1152 where the 100 day moving average is. Will we see the moment continue? That’s a very valuable question and not one I have the answer to right now although since it’s passed through the 40 day moving average I would expect it to push on from it’s current price of $0.1090 to $0.11 during today’s session.

HGU18 – Copper is now definitively trading in the December contract and has found some buying so far in the level in and around 2.60. There was a big volume day on the 4th of September but that only took selling down to the 2.60 from where we have seen buying again at the last 2 times of asking. From my point of view the competing themes are to evenly balanced for me too want to take a position so I’m just going to watch.

ZSX18 – Soybeans are rallying in the last couple of sessions but with no real impetus. All we are really seeing is the bears have been delayed at the moment. The price has settled around the midpoint of the bullish candle which bounced off recent support.

ZMZ18 – .A similar tale for soybean meal (to soy beans) with the price still rallying but not towards my key inflection point at 324.

ZOZ18 – My data supplier is not really generating the open interest data correctly for the December contract so just have to wait and see what’s happening there. The price seems to be holding around 245 but it’s been very choppy so i’m not really sure about taking a trade off that.

RSX18 – Canola is looking weak and it seems has failed at the 500 level after which I would expect a price to dip down towards 490 again.

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