Wednesday 04 November 09

I'm having a pretty cautious morning.  I have a lot of positions on and I am riding some retracements, braveheart style but the volatility is not so much fun.  The FOMC statement this afternoon is the big news of the day and I am not sure I will do much until then.

GBPJPY (Fri) stopped out balance 149.50 (+0.5%)
EURGBP short 89.50 stop 89.70 break of support
CRUDE short 80.21 stop 80.61 - addition see chart below
GBPJPY short 149.90 stop 150.30 - off 150 level (again)
AUDJPY closed 82.10 (+2.14%)
EURJPY closed 133.72 (+2.47%)
CRUDE addition stopped out (-1.0%)
EURGBP stopped out (-1.0%)
CRUDE short 80.21 stop 80.41 - trying again
CRUDE addition closed 80.11 - stocks rallying hard (+0.5%)
GBPJPY stopped out (-1.0%)
USDCHF balance stopped out (-0.5%)
Post FOMC:
USDCHF long 1.01433 stop 1.01233
AUDUSD short 0.9118 stop 0.9148
GBPUSD short 1.6556 stop 1.6606

Crude is at the top of my channel - breakout or range trade ?  The SnP is at the 61.8fib of the last swing ...






Same with a lot of currency pairs too - here is cable 4hr:





And EURUSD at trendline, 50fib and underside of daily rising trendline from below:

Open Positions:
CRUDE short 80.85 stop 81.15
EURUSD short 1.4980 stop 1.5010
AUDCAD short 0.9820 stop 0.9845