Sunday, July 5, 2009

PnL Updated, watch list for this week...

Down 2.5% from the previous week, ending at -10.5% since October 2008.

My downfall was again taking trades where I "thought" price was ready to come down. I need to stick to what works, trading purely S&R.

On the watch list for this week...

EUR/USD long at 1.3825-1.38, 1.3725-1.375

USD/CAD short at 1.175-1.185. A large range but one that should provide a meaningful bounce.

USD/CHF short 1.10 or long 106.

GBP/USD long 1.62

That's all for now...USD/JPY may provide a bounce around 95. or again at 97 but the levels aren't as strong as I would prefer.