Swissy

late post, but took profits at 1.1386.

Swissy

Took a reversal long @ 1.1372 SL 1.1321.

Flat all

Flat all positions, prices did not break above cloud. Watching to see what happens.


Euro Long: 1.3080 Flat: 1.3205 Profit: 125 pips
Eur/Yen Long: 116.65 Flat: 117.95 Profit: 130 pips
Swissy Short: 1.1499 Flat: 1.1372 Profit: 127

Total daily profit: +382

See what happens when I follow my system?

Open Positions

Long Euro 1.3080
Long EurYen 116.65
Short USDCHF 1.15

Ok so this is CL daily chart from Futuresource.com. As you can see we are about to hit resistance at 50.00 area. Now what I am thinking will happen is that around the resistance, people will begin to sell thinking that the market is still short, so it will bounce at first.I believe that the market will be caught short, so it will begin buying back on that small bounce, which will begin the uptrend. Using the usual breakout tp calculations (H-L)+H, you get a target of about 65 before a retrace.

Lets see how right I am.

USDCAD and some other thoughts

OK so my near term analysis is this:

Oil has formed a double bottom break of 50-65 is confirmation. I say its plausible that an uptrend will occur to around 90 area. This is based on the fact that Both CAD (oil based) and EURO (inflation based) currencies are beginning to consolidate and look to head north in the near term (coming month or two).

I took a USD/CAD short position @ 1.2490 on Friday, held over the weekend +176.

now my key levels to watch are:

Euro: 1.3100
USD/CAD: 1.2250
Swissy: 1.1400
Eur/Yen: 117.00
USD/Yen: too messy for me right now

Cable: This is interesting. The UK is currently up shit creek without a boat (worse than being there without a paddle). Waiting to see how things play out on their part before I take anything. Plausible that enough selling of the USD on any cross will cause cable to gain strength.

Schooling.

Due to OC transpo strike here in Ottawa, I have no way to attend University until the strike is over. I have dropped Carleton University, and have begun taking my mathematics courses online. Taking them online saves me a rather large sum of money, and allows me to do things in my own time which drecreases the opportunity cost of school because I can open up my work schedule.