August 2010

We have had a bad month with over 600 pips lost. To add insult to injury, our USDCHF also closed out for a loss of -200 pips yesterday. I was just unable to get my finger on the market pulse. Most of the calls eventually worked out but we simply seemed to get in either too early or to get caught by unexpected announcements. That is not me making excuses, that is identification of where we went wrong, and learning to add these new issues into our future calculations.

GBPJPY long at 135.50 SL 133.30 TP 140.00

We are well in profit with this trade. just over 150 pips. Keep the 10 - 20 pips of profits locked. We may see some more out of this one.

USDCHF long at 1.0550 SL 1.0375 TP 1.0750

Stopped out


Well, we start a new month, focused on recouping those losses and making some.

We have, yet again, EURCHF long at 1.3620 SL 1.3500 TP 1.3800

We were stopped out on this trade, but only just, and then it came all the way back. Yet again, I have placed my TP at 1.4250 but if we can get our target i will be happy for starters.

The Euro zone is cooking, so we are still looking to buy on dips. Ideally, we want to buy at 1.2900 area, but that may not come easily. So get in with small orders if you want - get in around 1.3100-1.3130 with a tight stop loss of 1.2970 - 1.2990, try and get 50 - 80 pips.

Another trade to look out for is EURGBP, the GBP is simply on FIRE!! You want to sell at the highs around 0.8300 - 0.8340. Stops can be placed around 0.8365 - 0.8390, nice tight stops. TP can be 50 - 100 pips.

Get in and out quickly, as the markets can turn very quickly in summer low liquidity conditions.

Levaz

GBPJPY long at 135.50 SL 133.30 TP 140.00

Went as high as 137.75, which would be about 175 pips from the entry of 136.00, so let us give it some room. We have locked in some profit, so at the very least we will not suffer a loss here.

EURCHF long at 1.3620 SL 1.3500 TP 1.3800

This one did not get picked.

The EURGBP, if any one traded, is trying to overcome the 0.8300 area, but is facing stiff resistance. Let us see if that hold, and if there will be a push down on GBP strength.

Levaz

GBPJPY long at 135.50 SL 133.30 TP 140.00

Close the trade at 137.00 It appears that there may be a retrace over the next couple of days.

For today, we have GBPUSD short at 1.5884 SL 1.6000 TP 1.5742

Levaz

GBPUSD short at 1.5884 SL 1.6000 TP 1.5742

We will tend to this existing trade. There are no new trades for today.

Levaz