Wednesday, September 2, 2009

Wednesday 02 September

Stayed up for Aussie GDP which was not as big a mover as the headline suggested but has not helped my AUDNZD short.
Lets see if S&P can break 988 to retest August lows and then beyond. The bearish rising wedge on AUDUSD makes me hopeful.

CHFJPY short 87.25, stop 87.75, retrace of daily BUEB
CRUDE short 68.37, stop 68.77 - 1hr BUEB addition
AUDNZD short stopped out ugh (-1.0%)
AUDUSD short 0.8295, stop 83.35 1hr BUEB - addition
CRUDE banked 50% @3xR 67.17 (+1.5%)
CRUDE balance closed 67.97 (+0.5%)
AUDUSD addition stopped out (-1.0%)
GBPCHF short 1.7280, stop 1.7330 Ihr IB addition off 26Aug low
AUDUSD (Tues) closed 83.55 (+1.0%)

+1% for the day
Open trades
GBPCHF short 1.7638
GBPJPY short 152.550
CRUDE short 72.20
USDJPY short 93.30
CHFJPY short 87.25

Everywhere I read it says to buy gold. Gold is an inflation-hedge, a deflation-hedge and the seasonal trade right now, etc. Bulls & bears all say buy gold when they can't see anything else to trade.
Anyhow (sorry Tom) but a break of this rising wedge pattern is one of my favourite shorts.

Well got my gold prediction wrong.  Quite a spike :)


  1. Why are you getting involved in gold???????????

  2. LOL
    I thought the same Nic - looked like a good short - lost 5 pips there!