Or the blood begins to coagulate...if you were on the wrong side of that masacre. Lets take stock of what we have and what may happen next.
Open Trades
Eur/Usd - short 1.4000 stop 1.4000 . Closed 1/4 @ 1.3850. Working to buy 1/4 at 1.3750. AB CD Measured Move target is at 1.3645.
Gbp/Usd - short 1.6015 stop 1.6015. Closed 1/4 @ 1.5845.Working to buy 1/4 at 1.5730. AB CD Measured Move target 1.5400... ok ok its a little far.. hey but its cable we are talking about...
Aud/Usd - short 0.8898 stop 0.8898. Closed 1/4 @ 0.8805. Working to buy 1/4 at 0.8688. AB CD Measured Move target is 0.8647.
Xag/Usd Spot Silver - short 16.81 stop 16.75. Closed 1/4 @ 16.25.Closed secong 1/4 at 15.65. Head and Shoulder target is at 14.18...yeh I thought it was a lil too far as well, but now it doesn´t look that unrealistic now does it.
Usd/Cad - long 1.0555 stop 1.0555. Closed 1/4 1.0635. Working to sell 1/4 at 1.0720.
Aud/Jpy - short 80.35 stop 80.35. Closed 1/4 @ 79.91.Will watch the stocks to see where I take another 1/4 back. Target is 77.61 channel support.
Eur/Chf - If 1.4650 trades , place a stop entry to buy @ 1.4670 , stop 1.4630 . targeting a quick 20-30 pips ... its a cheecky trade and possibly one you may want to skip..but its been a good day up until now.
Markets have been ripped apart like a hot chook today, why... I havnt even had time to look...What is important though is that ´we were on the right side of the move and have managed the trades well.
Todays closes will be watched carefullyby technicians in regard to the long term support and resitance lines and the 200 day simple moving averages. I dont want to nag on about it but NFP tomorrow may change all of this.
Friday, 5 February 2010
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