Trader Tom : Market Analysis FTSE 100, SP500, Currencies

To update site, press [shift] F5 on your keyboard.

updated my stop loss at 15:40pm on GBP USD.

Tom

18th February 2009 - 08:32am

Good morning,

I am unfortunately at the mercy of my internet connection, which seem to have been temperamental over the last 48 hours. It should be sorted by now.

I am short the Sterling Dollar at 1.4280.

Stop is at 1.4325

Target is $1.32.

I intend to add to this trade many times. As you can see from the chart, we are sat at the neckline.

This is an identical pattern to the H&S pattern you see in the middle of the picture.

I will add my open orders on the trade sheet below.

I am short Sterling Euro at 1.1270

Sterling Euro is losing momentum. I am short at 1.1270.

The pair is showing a wedge at the right shoulder, and momentum is slowing.

Risk is up to 1.1350, where stop is.

A shoulder break could open the door to an 600 point move.

I am still convinced about parity in Sterling Euro.

Open Swing Trades & Closed Swing Trades & Open Orders

Open & Closed Trades
Instrument	Direction	Time	Date	Entry Price	Stop	Exit	Result
GBP USD	SHORT	07:25	18/02-09	$ 1.4280	$ 1.4250	-	-
GBP USD	SHORT	11.32	18/02-09	$ 1.4228	$ 1.4250	-	chart
GBP EUR	SHORT	12:10	18/02-09	1.1270	1.1350	1.	see above chart


Open Orders
Instrument	Direction	Price	Stop	Target
GBP USD	SHORT	1.4025	1.4150	-

OPEN & CLOSED SWING POSITIONS
Instrument	Type	Date	Entry Price	Stop	Current	Status	Result
DAX March	LONG	26 Jan 09 - 09:00	4162	4390		CLOSED	+411 points
GBP EUR	LONG	26 Jan 09 - 08:15	1.0595	1.0560		CLOSED	+970 points
GBP EUR	SHORT	6th Feb 09 - 08:37	1.1525	1.1505		CLOSED	+20 points
DAX	SHORT	6th Feb 09 - 13:52	4596	4629		CLOSED	minus 33
GBP EUR	SHORT	10/02/09 - filled order	1.1524	1.1029		CLOSED	+ 495 points
DAX	SHORT	10/02/09 - filled order	4625	4529		CLOSED	+ 96 points
						TOTAL	1959 points
NOTES displayed in archive section

Kind regards and happy trading

Tom Hougaard