Monday, September 29, 2008
Thursday, September 4, 2008
Ok - So I thought I would update you on the 3 currency pair positions that I have on and when I got in and what I thought it would do at the time of entry. I'm looking to exit two of them and 1 is testing my patience.
USD/CAD: I was looking for a pull back off of resistance and it did that the day after my entry but today's action moved up just over my entry. I'm trying to be patient.
USD/JPY: I shorted this pair and it's pulled back a good bit today. I'll be looking to exit this one.
EUR/CHF: This is the first currency pair I shorted that we've been following. Obviously my favorite because it has made it's move that I was looking for. 1.58 (the dashed horizontal line) is a LONG, Long, long term support...like a monthly support line. I've tightened my stops and I'm looking to exit with good profit.
Wednesday, September 3, 2008
It's only been one day, but so far so good. It's dropped as I was looking for it to. I've thought about adding to the position but I don't want to blow up my account if it makes a sharp turn around. A daily chart is below and I got in on the day the "shooting star" candle formed.
Tuesday, September 2, 2008
Another Short possibility? I'm looking at a Weekly chart of the USD/CAD currency pair. The daily chart looks pretty bearish as well...but I'm short this pair and would love for the trend to continue.
Monday, September 1, 2008
Above is the daily chart and below is a weekly chart for the EUR/CHF (which again is the Euro - Franc currency pair)...I shorted it a couple of weeks ago expected a pull back and it's gone as planned. I'm still in it and I'll be using the weekly chart to look for an exit. I've made money but I'm looking for more.