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Welcome to the Fourth and Final Journal of this KittyCat!
This journal is focused on capturing Trading Action (and will likely be the most boring among the four journals I made)
It is with the intention of: (1) Proof of concept and (2) Keeping track of our knowledge and its application that I started this journal. Unlike the other Three (3) Journals, this one shall be short and sweet and shall be more direct / straight to the point. This journal is mainly for keeping track of the technical side of our trading journey.
Should you have trouble understanding the jargon on this journal, please read at least on my 3rd Journal
Helloooo @Imperator_KittyCat! Super nice to see you’re quite active also! I don’t think I’ve had the chance to check out all your 4 journals yet, but I just got curious! If this one is mainly for keeping track of the technical side of your trades, I hope you don’t mind if I ask the objectives for the other 3?
Good to see you active again. I just had to translate that first line. They didn’t do Latin where I went to school. We were deemed too common to study Latin, and that was a 1970s Grammar School - up North. I am at peace with the translation though.
We seek to know all things to glorify Him who knows all things
It’s not a passing mark as per our system. We can’t take this one. It fails mainly because it does not fit the criteria of our system to look for a “trigger”. This can be profitable but from a “continuation” or “trend following” perspective, ignoring the “trigger” requirement.
The conservative chap can wait for a pullback, but this one may still have some gas.
Thank you for adding the fundamental color to this! It is true that there may be intervention and that’s probably creating the selling pressure we see at 161.700-ish levels but as the San Francisco Fed Daly said, it’s too early for them to say if and when they’ll make the appropriate rate cuts. In that case, it’s best to be reactive than predictive, so as not to preempt monetary policy decisions.
In any case, this kitty is not (yet) on this trade as reflected by the “TRADE SCORE” of 12 not meeting the passing score of 17 and a descriptive score of “LONG FAIL”.
However, if you look at the chart now, it’s worth looking at and we might see a confirmed trigger within a few hrs.
Surprise surprise, USDJPY retraced to the Kumo at 161.40. This time we get a trigger signal which likely gave us the passing score. This is likely another attempt to break 161.70 at least. Let’s see where this goes.