Weekly Thread: Aug 25 - 29

Discussion in 'Forex Trading' started by rezo_s, Aug 25, 2003.

  1. rezo_s

    rezo_s

    Hi all!
    Here's what I'm looking for in coming trading day(s):

    GBPUSD - short for 1 5605
    USDJPY - short for 116 80
    USDCHF - long for 1 4420

    I don't see any signs of recent move to be weakening, so we may
    still get continuation of what we saw last week. Of course
    correction is inevitable, but I doubt we are talking about
    serious one here. The exit from triangle occurred to be just as
    in books, and we got the maximum this formation could give
    (talking Euro) - 400 pips of move in direction of break. I called
    1 1220 the level of break, and we saw 400 pips down from there.
    Such a rapid move opened wider horizons and further room to
    move down.

    Have Profitable Week,

    Rezo

    August 25, 2003
     
  2. rezo_s

    rezo_s

    Buy USDCHf@1.4142
    Sell GBPUSD @1 5772
     
  3. rezo_s

    rezo_s

    Targets as posted earlier and here are stops as well:

    USDCHF:
    sl@1 4010 (3.73%)
    tp@1 4420 (7.86%)

    GBPUSD:
    sl@1 5865 (3.72%)
    tp@1 5605 (6.68%)
     
  4. rezo_s

    rezo_s

    Stops moved to b/e on those 2 trades;
    opened another one: sell EURGBP@6918
     
  5. rezo_s

    rezo_s

    stop @6965 (2.95%)
    target half position for 6875, and hold another half open.
    For now tp is not put, and I may hold whole position for 6715 (6.47%)
     
  6. rezo_s

    rezo_s

    USDCHF was just closed for b/e. Reentering this position seems very possible.
     
  7. rezo_s

    rezo_s

    Bought GBPCHF@2.2261
     
  8. rezo_s

    rezo_s

    stop @ 2.2145 (3.27%)
    tp @ 2.2530 (7.59%)
     
  9. rezo_s

    rezo_s

    USDJPY: Sold @ 117.65
     
  10. rezo_s

    rezo_s

    Initial target is set to 116.80 (2.89%)
    Stop @118.10 (1.53%)
     
    #10     Aug 26, 2003