GBP/USD powered through what I looked to see as resistance @ 1.40. Looking closer into it, the earlier spike and retracement off 1.3985 should have negated any expectations for a significant bounce off 1.40.


I was sleeping during the GBP/USD movement and didn't make the trade.

The EUR/USD never made it up to 1.30, where I still look to short it if we can get up there next week.

Bit of action the last two days...

3/9/09 - Shorted the USD/CAD top at 1.30 with two entries, 1st at 1.3025, 2nd at 1.3040. An error made while adjusting my S/L stopped me out of my first position at -25. I re shorted again at 1.3050 (again bringing my total positions to TWO), closed one at breakeven and the other at +60.

Small gain overall.

Went on to short a false break of support on the USD/CAD (was looking for an eventual dump downwards following with the bounce off the top) and was out for -30. Small loss overall for the day.

Today, 3/11/09, shorted the GBP/USD resistance @ 1.39 - was planning to scale in and only got 1/4 of a full position on before the reversal took place. Moved stops to +1 after we had a good 15point space and maxed out at about +25 points before reversing and stopping me out for +1.

Afterwards, we had what I thought was very nice setup on the NZD/USD Daily chart for a big bounce. Scaled in up to full size position and was stopped out on a spike upwards. Price then reversed but, at it's furthest reversal, would have only allowed an average of +25 points.

So, unfortunately I was stopped out...if I had not been, then stops would have at least been moved to B/E. That wasn't the case however. Lost -25 & -40 points, each half size positions.

I'll run the ending balances later.

For tonight, we have some nice resistance bounce points setting up on the GBP/USD & EUR/USD.

USD/CAD 1.30 Top = Short

Watching.