Wednesday, October 27, 2010

Wednesday

Not around today until later on Wednesday but a few charts and will update later in the day.

I added a trade in USDCAD tonight, long on the breakout of this triangle/wedge with a target of the upper trendline where there will be two symmetrical moves off the lows (AB=CD).


S&P daily chart
Mondays candle was a bearish shooting star, Tuesdays candle was a bearish hanging man and we are now set to retest the lower channel trendline. A break below this suggests a correction back to 1150 initially
There is apparently a big option barrier in EURUSD at 1.38 which China is expected to defend.  My EUR shorts might not go so well today, we shall see.
SILVER has made two equal corrective swings higher so I am short again and GOLD looks ready to rollover again also.

USDCAD long 1.0250 stop 1.0220 target 1.05-1.0550
SILVER short 23.95 stop 24.30 target 22.25
CRUDE short 81.95 stop 82.25 PT 80.00
CRUDE closed 50% @3R 81.05 (+1.5R)
USDCAD has stalled 2 pips short of my 3R target ... annoying

Open trades:
USDCHF long 0.9710 stop 0.9680 PT 1.00 - 1/2 position
EURGBP short 8860 stop 8890 PT 0.85 - 1/2 position
EURSGD short 1.8040 stop 1.8190 PT 1.7650 / 1.70

1 comment:

  1. Possible Diamond Top on SPX.
    http://99ercharts.blogspot.com/2010/10/spx_1370.html

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