Wednesday, June 20, 2007

USDCHF and fourth call..and EURJPY

Hi All,
So the fourth call given on going short on USDCHF worked fine as well. It was slow, it was painful but it worked just well. My system still shows further weakness but i did not want to risk it and so have come out of the trade. Sold at 1.2400 and closed at 1.2366. Sounds good so far.

So the crosses have got a second wind though as of this writing , they seem to be slowing down. EURJPY seems to be the slowest of the lot and it has to break 166.20 to be good for longs again. Until it breaks that level, it is better to stay out or short it with small SL which is what i did with 10 pips profit. It has to break on the upside very soon else 166.10 will become a kind of double top which will be very very difficult to overcome later on.

Happy Trading!!

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