Tuesday, June 23, 2009

Watching these trades

These are all relating to 4 hour closes. We are looking at 1:00 p.m. for the first 4 hour close. From Bob Iaccino of Trader Outlook:

Short US/Yen if we close below 95.51. Even though we have 2 profit targets for this trade, it is already trading significantly through our entry point (95.52), so I may consider doing only a half position. (I made a profit on this trade yesterday.)

Short AUD/US if we close below 78.26. I lost on this yesterday because I jumped in before the close and we ended up not closing below 78.26. Tut, tut.

Short USD/Swissy. We are much lower then original entry point for this (1.07112.) 1.0647 is target, so I am unsure.

Short GBP/USD if we close below 1.6208.

Long EUR/GBP if we close above 0.8573 (area.)

I will be using a couple of other indicators to confirm these trades, especially my trade triangles.

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