Gary Comey / Perfil

$GBPCHF prospects improved off very oversold levels. Former daily support in the 1.1530’s is now resistance. Anyway let’s not count chickens. Our position size is how we control risk and then we just need the patience to let markets get on with what they do.

Cash higher again though $GBPCHF has not been an instant profit which is more normal than the reverse. So far about 1.5% for August in medium risk but it's only August 5th. Planning to bring #Blackwave Pacific up to about $400K next week. #skininthegame

A good two months & we’re at 100% cash so we can physically touch it 😉….if we want. Over 11% for Alpine and over 8% for #Blackwave Pacific on top of June’s performance. I will be adding more money to Pacific in the next week. Trading resumes on Monday Blackwavetrader.com

4.5% for the week, 7.5% for the month so far in Pacific, higher again for Alpine. This month is looking like as good as last month. Satisfied but not complacent. Not looking for much of a DD into month end. #skininthegame Blackwavetrader.com

$EURUSD back above parity but in a tight range. The correlation between the buck and the S&P500 seems tight. Nervous markets = $SPX ⬇️ = Dollar ⬆️. We squeaked out a 1% gain after using a little of the profit to reduce $EURUSD exposure. #Blackwave Pacific 2.85% in July so far.

$GBPCHF, $EURUSD off the lows, $GBPCHF is currently profitable though I'm not ready yet to accept this profit. Another 20-40 pips might change my mind depending on the market. I'm sure there's plenty of calls for $EURUSD parity. Maybe, maybe not. We trade the plan. #skininthegame

June best month in a few years and I was hoping to be at cash by month end but not to be. Just trading the strategy however there’s been plenty of downside to $GBPCHF. That’s fine. Position size is correct. Wash, rinse, repeat and we wait. I have to manage risk. That’s my job,

Evening all. Some success with EURUSD and USDJPY during the week. Just GBPCHF open now and the SWAPS are positive so good. Looks like about 2.5% for the week and around $10% for June with a few days to go. Trading from Portugal next week. Boa noite. blackwavetrader.com

The week of the Central Bank. Almost 4% for the week and 7% for June so far. Now that EURGBP is closed I feel like a pilot who has been flying on one engine but now has two again. So much so I stopped trading and played tennis to "calm the jets".

Useful volatility in EURUSD, USDJPY and to cap it all off the SNB did another poor job of communicating it's intentions and raised rates (sort of). Bought EURCHF after the shock and closed for profit this evening. Stay grounded. #skininthegame http://blackwavetrader.com

Done for the week. Shame I got out or $EURJPY so soon because with the equity market getting hammered the Yen is having a strong day given it's close correlation to risk. I bought another 2K shares of $CS at the market just now for Blue Wave. June 2.8% so far for Blackwave.

About 1.5% so far in June. $USDCHF has been useful. I’ve added more money to #Blackwave Pacific and it’s balance now stands at $325K or $405K for Alpine, Pacific and California combined, 40% of my target as per my website. #skininthegame Bom fim de semana.

I've transferred $35K from Blackwave California to Blackwave Pacific. It's more a recognition of the lofty goals on the website. Each according to their own risk level.
Blackwave Alpine $67K
Blackwave Pacific $300K
Blackwave California $9K
http://blackwavetrader.com #skininthegame

Back to cash. A very profitable month. I’ll stay back to cash for a few days to allow people to withdraw profit if they wish. Plus I’m in Monaco 🇲🇨 for the Grand Prix so it suits us all. Champagne for my real friends, real pain for my sham friends. 🍾

The week is easy enough to interpret if you look at the dollar index overbought at 19 year highs and the equity markets deeply oversold. It is the FEAR part of “fear and greed”. Cash is flowing into the buck and to some extent the Yen.

I expect the markets to remain choppy while we decide is today a bear market rally or a dip in an otherwise cyclical bull market. EURUSD, GBPUSD, USDJPY and CADJPY will all be choppy too. I came within 5 pips of closing CADJPY this week but hey that's the game.

GBPUSD average entry is around 1.2485 after five down months, four down weeks and 6 down days before today's bid. I think 1.2485 is easily achievable. Not prepared to give out a TP but I'm thinking a good deal into the 1.25's

www.blackwavetrader.com

We are out of EURGBP for a small loss. I took it because it may be heavy lifting to get EURGBP through 0.86 though if it closed above the race could be on for 0.87. After such time in the trade I want to apologise for giving you all a few sleepless nights and to thank both my friends and my critics. Friends offer support and critics keep me sharp and resilient. If you scroll down through my feed you will see them both. As I've said before the market has a way of pinning you to your beliefs. Do you believe in your strategy or don't you. I did and thanks for having some faith. I really appreciate it. All strategies have their drawbacks. Nothing is free. Another "go with the trend with a tight stop loss" strategy might incur a dozen small losses and that's fine as long as you know that it works over time. I know that my position size/grid/oscillator strategy works over time and now I know it is robust enough to handle a once in a five or six year event where the trade does not recover for 15 months and the SWAP's get higher and higher. If I have to wait another five years for the next problem then I should be fairly set up for money. Try to imagine where you might be in five years because with or without a plan you will surely arrive at a destination in five years. For my part and being a contrarian I've just added back in some money I withdrew to buy shares in April. Have a nice weekend.

The war in Ukraine 🇺🇦 may be weighing on the Euro but $EURGBP has broken the downtrend for now. Due to the amount of DD we ate with basket 2 break even including SWAPS is about 0.8575. Big day for the Pound.

If/when $EURGBP closes I’ll just stay with $GBPUSD until it closes and then we are back to cash. The health warning is that we ain’t there till we’re there but that’s the “back to cash” plan.

Evening. Some success with $CADJPY recently as further rallies appear to be offered into. The driver and theme for the week is the strong dollar both against the Yen and the Euro. Due to the success of the “November strategy” I think $EURGBP is less of a risk.

The Cable position is also something of a hedge too and deeply oversold. Indeed $GBPUSD and $EURUSD have had something of a breather today as the buck (dollar index) eased off massively overbought conditions.

I don’t think we’re quite there yet on $EURGBP but given my objectives indicated in my earlier countdown clock video it may soon be safe to start growing the cash faster instead of eating DD with the profits from basket 2. Have a nice weekend.

Evening. I will be making a withdrawal of approx $25K (10%) from Blackwave Pacific in the next 48 hours in order to pay a dividend to the holding company Blue Wave which will be used to buy some Hilton Worldwide Holdings (HLT). I will refund Pacific soon. Blackwavetrader.com

$EURGBP has some bullish momentum going into the French elections this weekend with #macron polling better though we never know. A #Macron win helps us. After making an historical run higher $CADJPY is giving up some of the gains and our short trade is looking a little better.

The Dollar is still very strong with various FED speakers sounding very hawkish though $EURGBP is higher in spite of it. The #ECB is sounding more hawkish too & there's limits on how often we can run the Dollar/Pound higher with each new FED statement we may get more immune.

Average entry of our EURGBP basket before SWAPS has gone from almost 0.87 to just 0.85. I am presuming that our position at 0.8714 will soon be gone as it almost is. At that point I'll change the strategy a little bit to occasionally use a profitable basket to eat the biggest losers of the unprofitable basket before waiting ten months to do it as happened with EURGBP and our "November strategy".

This should mean such a long DD would be statistically less likely as I would be tackling the biggest losers earlier and getting out of DD's sooner. In theory it may reduce growth but only very marginally as most DD's are a few weeks, and also increase safety.