(8/24/2011 5:51:20 AM):
We are currently short AUD/CAD from 1.0383 based on the 60min chart. We just received another short confirmation on the 4-hr chart. When both time frames agree, it is normally a high-confidence trade. We may increase our target based on the 4hr chart.
(8/24/2011 6:04:46 AM):
Let’s STRADDLE the NZD/JPY with both ‘buy stop’ and ‘sell stop’ orders. After fill, Keep other order working.
NZD/JPY currently trading 63.39
Buy to OPEN NZD/JPY at 63.69 buy stop
SL 63.20 (49pips)
TP 64.44 (75pips)
Sell to OPEN NZD/JPY at 62.90 sell stop
SL 63.68 (78pips)
TP 61.60 (130pips)
(8/24/2011 6:10:53 AM):
Move stop loss on Short AUD/CAD to 1.0390
(currently trading 1.0369)
(8/24/2011 6:47:31 AM):
Our Long EUR/NZD moved 50+pips into our favor.
Let’s move stop loss to breakeven+1
Move stop loss to 1.7393
(8/24/2011 9:40:13 AM):
We exited breakeven+1 on our long EUR/NZD Out +1pip
We stopped out our long USD/CAD at .9841 Out -49pips
We have three (3) open positions:
Short AUD/CAD at 1.0383
Long NZD/JPY at 63.69
Short USD/CHF at .7914
We have one (1) pending trade:
Short NZD/JPY at 62.90
(8/24/2011 9:11:58 PM):
Our Short AUD/CAD has moved 50+pips into our favor. Move stop loss to breakeven+1. Currently trading 1.0311
Adjust stop loss to 1.0382
(8/25/2011 5:15:49 AM):
We have two (2) open positions:
Long NZD/JPY from 63.69 (currently +25pips)
Short AUD/CAD from 1.0383 (currently +59pips)
Looks like this trade will call an exit at close of this 1-hr candle at the top of hour. Expect an exit alert in about 50min’s.
No Pending trades at this time. Cancel any pending trades.
A long time veteran trader and subscriber commented today:
This week is actually the worst part of the doldrums. Next week and then on, we can get back to better trending markets, and that is a historical fact. Europe goes back to work next week, although I don’t know what effect the current economics have had on their culture, but I’m sure it is engrained in them and we know the trading (as it does every year) has been noncommittal at best.
(8/25/2011 6:10:37 AM):
AUD/CAD did not call an exit. Let’s close at market at 7am ET (50min’s from now) if price is above 1.0316.
(8/25/2011 6:54:54 AM):
Buy to OPEN GBP/USD at 1.6435 buy stop
SL 1.6326 (109pips)
TP 1.6648 (213pips)
Trade is based on 240min chart.
(8/25/2011 7:01:13 AM):
Buy to Close AUD/CAD at Market
(8/25/2011 7:06:47 AM):
Our long NZD/JPY has moved 50+ pips into our favor.
Move stop loss to breakeven+1
Adjust stop loss to 63.70