Update for 20080113

Current positions

• EURUSD: (long 2 lots) profit at +322. Gapped up from Friday's close. Wondering if we'll break the high of the fourth. Trailed my stop to 200p away.
  
• USDCHF: (short 3 lots) profit at +411. Gapped down from Friday's close. Will we see a retracement to the Nov 23rd low? Trailed my stop to 200p away.
  

New positions

• EURJPY: long 3 lots @ 161.06. Yea I did it. Looks like we could be in a pennant formation, see screenshot. Friday's close brought the 14 stoch to 23.65 on my chart, so I treated that as a valid signal, even though the current level is below 23.6 and the 5 period stoch is perhaps rubber-banding back to the rope. I set my stop loss below the fib levels on the chart, which are about 250p away. Weekly stochs are pointing down, so I guess we might be in store for some drawdown to start this trade off as the weeklies flip back up (which they will hopefully do.)
  

Pairs to watch

• USDCAD to go short. Maybe.

Images