Update for 20080122

Current positions

• USDCHF: (short 2 lots) profit at +465. Got close to my stop, but is now 209p away. We're nearing the 1.09 level again and a retest of the previous two lows. Part of me wants to close out another lot right now and bank that 465, but you never know what could happen. The stop is in place and I would still get 200+ pips if it hits it on 2 lots. Kind of depressing when I compare it to my losses so far, but I have to remember that I'm just getting going and hopefully I won't make the same mistakes and take losers with bad setups like I have been.

New positions

• Didn't take EURUSD long because weekly stochs are pointing down
• Didn't take AUDUSD long because weekly stochs are fishnetting

Pairs to watch

• USDCAD is interesting, because it has been in a strong daily uptrend recently, and might be about to break down the 76.4 level. Weekly stochs are messy and all pointing up and in overbought, so I probably won't be entering short if it does break the 76.4 on the daily. Unless of course weekly stochs straighten out first and the downtrend is still intact.
  
• EURJPY makes me uneasy about going long, even though we didn't go down past our previous low. Weekly stochs have peaked as of this writing, but the week isn't over yet and anything could still happen to them. We're right at a 61.8 retracement line on my chart, nobody screaming buy yet.
• GBPUSD could just keep on this downtrend, it's up against resistance now of a previous support. ST stochs have broken the wall on the weekly chart, and the 14 period is turning up. I might just wait until weekly stochs are above 23.6 to go long on the daily.
• EURGBP might give us a chance to go long, which would look like a pretty solid trade, as long as weekly stochs stayed in overbought.
• EURCHF has a huge down wave on the daily, but weekly stochs might be pulling back up, and might see a break of 23.6 up on the daily. Long position will need more analysis, but I'm not getting my hopes up.