Wednesday, February 24, 2010

Wednesday 24 February

Not all the daily charts are clear about direction for me.  Although the market wants to go down right now I was expecting more rally before this drop and I am not ruling out some big bounces or that the rally may resume for one last push up.
Commodities and commodity currencies are weaker than the continentals.  GBPAUD, EURNZD etc look like good  buys.

Today's trades:
SILVER short addition 15.76 stop 16.01 break of yesterdays lows
GOLD short 1104 stop 11.09 break of overnight range target 1085
CRUDE short addition 79.01 stop 79.36
EURNZD long 1.9583 stop 1.9543 target 1.9640/1.9785
EURUSD closed 1.3540 - not able to break 1.35 will wait (+0.7R)
USDCAD closed 1.05 - double top (+1.65R)
USDJPY closed balance 90.10 - target+90 (+3.8R)
SILVER addition stopped out (-0.5R)
CRUDE addition stopped out (-1R)
CRUDE short balance closed 79.50 (+0.5R)
CRUDE long 79.50 stop 79.10 target 85.00
EURNZD stopped out (-1R)
CABLE short 1.5390 stop 1.5440 - asian session target 50fib

Open trades:
GBPJPY short 1.42 stop 1.4250 - 1/2
CABLE short 1.5550 stop 1.585 - 1/2
SILVER short 15.980 stop 16.18
EURJPY short 123.50 stop 1.24 - 1/2
GOLD short 1104 stop 11.09
CRUDE long 79.50 stop 79.10

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