Funny price action yesterday in commodities that disconnected with the dollar.
This story did not help gold either: http://blogs.wsj.com/source/2010/03/10/gold-doesnt-shine-for-china/
London session seems to have lost a lot of its momentum lately.
SnB on the bid in EURCHF again.
When the US pit closes if my crude trade has not gone anywhere I will close it, there is no momentum and leaving a countertrend position on is just asking for my stop to be eaten.
USDCHF short 1.0699 stop 1.0719 target 1.0550/1.0506
GBPJPY long 135.70 stop 135.30 target 137.30 countertrend
USDCHF stopped out (-1R)
GOLD short closed 50% @3R 1102 (+1.5R)
CRUDE short 81.80 stop 82.30 target 80, 1hr bearish engulfing
EURGBP stopped out (-1R)
CRUDE closed 80.00 (-0.4R)
GOLD short 1117 stop 1122
GBPJPY long 135.70 stop 135.30
The only thing wrong with this is 136 is one of my big fat lines in the sand and if we don't hold above it then this is a false break.