Wednesday, April 14, 2010

Wednesday April 14th

A lot of the XXXJPY's closed the daily candles as hammers and an opportunity to get long with the trend last night.  I picked GBPJPY and I bought USDJPY on a break of the descending trendline from high at the beginning of the month.
The USD is looking pretty weak and I will look to get short vs USD something on a dip either today or this week. I am watching gold and crude for long entries on dips now too although crude may have further to fall first.  

AUDUSD short 0.9318 stop 0.9330 target 92.20 (G222)
CRUDE short 84.20 stop 84.50 target 83.40 / 82.00 - short term
CRUDE stopped out (-1R)
GOLD long 1155.50 stop 1152 target 1170+, 1hr hammer
EURAUD short 1.4640 stop 1.4675 4h r hanging man
GBPJPY closed 1.4420 (+1.5R)
USDJPY closed 93.50 (+1R)
AUDUSD stopped out (-1R)
USDCAD short 0.9990 stop 1.0010 PT 0.9900
EURJPY short 127.30 stop 127.50 PT 126.50 / 126
EURJPY stopped out (-1R) :( stop too tight
GOLD long stopped out break even
USDCAD short stopped out break even
CRUDE short 84.65 stop 85.10, last trade anticipating inventories ....
CRUDE short closed breakeven ... drop in inventories.
CRUDE long 85.10 stop 84.60 TP TBD, break of daily high
CRUDE closed @2R 86.10 (+2R)

I'm having one of those days and I am trading badly.  Might take the rest of the day off.

Open trades:
GBPCHF short 1.6370 stop 1.6405 - 1/2
EURCHF short 1.4365 stop 1.4385
EURAUD short 1.4640 stop 1.4675


  1. GY, I am suspicious of GJ Nic. I reckon 1445xx is the top for time being. Market is waiting cny news. Any sign of revalution will trigger buying of yen. We are also looking at dollar conslidation since it's ranging from a while now. Correction in GJ to 139 is due now. There are no buyers only sellers emerge at 144 from past few days. Crude I expect it to bounce back with equities. I am still on May contract, will switch when it expires. Is there a charge or any expense for switching ?


  2. I looked and you are right. I cut it. It actually looks like a nice short now.
    I am not sure who you are trading with re rollover charge. For CFD's they just roll you no charge and credit/debit so you don't lose. Call your broker.

  3. I am with igmarkets. Just asked you to ensure how market works. IG is alright, they should follow what rest of the market does.

    yup, it looks nice to short. If we don't go below 142 there is a fair chance it will be @ 150 very soon. But chart will tell us that.

    cycle 1 to the upside, has finished. We need to see correction else it's sitting right on the edge atm.