Tuesday, March 9, 2010

A Nice Turn So Far

GBP turned lower quite dramatically, so what was once a sizable loss has turned back to a profit. It's early, and anything can happen... but the pattern drawn on the chart is quite bearish for the near term. That pattern would be a failed breakout of the upper line of a month-long down-trending channel.
 Several trades have triggered since the last update. They are all sitting at slight profits or losses, with GBP/JPY once again sporting a nice profit of 130+ points! The only trade yet to trigger is EUR/CAD, which we will very likely be shorting sometime soon.

Short 369 GBP/JPY at 135.69 with stoploss at 137.70
Short 615 EUR/USD at 1.3586 with stoploss at 1.3707
Long 771 USD/CHF at 1.0772 with stoploss at 1.0676
Short 758 USD/JPY at 89.71 with stoploss at 90.69
Short 588 AUD/USD at 0.9062 with stoploss at 0.9125

Not much to do but wait...

Current account equity: $170.76

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