GBPJPY

Short from 189.19 SL 193.62

EUR/JPY

Short eurjpy @ 154.01 SL 156.83

Positions

so we were stoped @ 106.94 at our price on usdjpy + 0
and we were also stoped @ 1.0934 on usdchf +258 pips

We are only long eurusd @ 1.4384 with SL at 1.4480

Positions updated

We were stopped on EURGBP @ 0.7981 and stopped on EUR/JPY @156.83

We are still holding our 3 last positions, we put our SL at our price on usdjpy, so @ 106.94,

and we are putting our SL @ 1.0934 on usdchf, and at 4480 on eurusd

USDCHF

We are going to keep our position if we reach 1.0832, as we think a much lower target 1.0625 first, then 1.0535, then 1.0010

Positions updated

Positions

We re open a short position on usdjpy @106.94 SL 107.87
and short eurjpy @154.01 SL 156.83

New positions

Finaly we are opening 2 positions

Short usdchf @1.1192 SL 1.1371
Short usdjpy @ 107.27 with a SL @ 107.87

If we are stopped we don't reverse the positions

Reflexions about trouble time

We are now in a big recession time, this recession is arriving while the financial system is in a huge panic, and close to the big black hole.

Crisis is not over, another one is begining Credit Card default


I am worried about the US debt now, somebody have to pay and have to fund the superbe balance sheet(or shit) of Fanny, freddy, and AIG. Probably the rest of the world have to pay for the american excess of credit.

Subprime crisis is probably over or close to be it, but now, welcome to a new one
the CREDIT CARD DEFAULT in the states as the unemployment rate is still going upand people have to understand that bank will not open new loans for firms before quarters as they are very shocked ,and the main task of banks is to fund the economy.

Firms are going to lay off til couple of month bringing increase of unemployment, and default on many family loan, same for firms, as bank are reducing loans offer, will be difficult to invest for them.

Positions updated

We were stopped on 3 positions during the night
We were stopped on cable @1.8080, stopped on usdchf @1.1192, and stopped on ausie @0.8072

We have 2 open positions

long eur/usd
short eur/gbp

We are not opening any positions at the present time, due to the market.
Market seems to bounce like last Easter week end, could be a 3 month bounce before the next roll over session.

Update of the positions 18/9/2008 operations since the begining of the month

We are at the present time


Long Cable @1.7749 we are putting our SL at 1.8080 with a target @ 1.8687
Long EUR/USD @ 1.7749 with a SL @1.4090 and taget @1.4900
Short USD/CHF @1.1192 with SL at our price and our target is 1.0832
Short AUD/USD @ 0.8072 with a SL at our price and target @0.7800
Short EUR/GBP @ 0.7903 SL @0.7981 and target as 0.7805
Short EUR/CHF @1.6020 SL at 1.5946 and target as 1.5720

New positions

We have opened three new positions

Long EUR/USD @1.4382 SL 1.4091
Long cable @1.7749 SL 1.7291
Short EUR/GBP@ 0.8135 sl 0.8213

Positions

NZD/USD

We are closing our short kiwi @0.6855 our P&L is 0.7080-0.6855= + 225 pips


We are opening a long position @0.6855 SL @0.6763

We are opening a long AUDUSD @.8326 SL 0.8072

AUD/USD wkly chart

Ausie was hit by a huge slap, as the commodities prices felt like a stone it was reflecting on AUDUSD. Since July market is puking ausie, we are dealing on the bottom of the cloud on weekly chart. But it s an area where there is a lot of support.
On the weekly chart, the 2 sen crossed, span crossed and his working under the rates but above the cloud.
EMA 50 broke while MACD and RSI too.

On daily everything on ichimoku is showing bearish trend, RSI is oversold, MACD is under 0 but seems to be stable now.

There is a huge long term support line which started in Nov 2005 which is not so far from where we are at the present time, support could be seen arround 0.8230.

We are waiting for a bounce arround here or 0.8230

In the uptrend

Be long @0.9088 SL 0.8834
Be short @0.8834 SL 0.9088

In the downtrend

Be long @ .8326 SL 0.8072
Be short @0.8072 SL 0.8326

EUR/JPY wkly chart

EURJPY is moving in a kind of chanel (in grey).
EURJPY dropped massively in August by in about 1 000 pips.
On weekly we are dealing under EAM 50, we are in a small part where the cloud is very thin, the 2 sen are still showing bullish trend, the Chinkou span is trading on the top of the cloud and above the rates.
MACD is near to enter in bearish trend, RSI have already crossed.
Everything is showing the current trend following, think EURJPY is going to 153, in coming weeks.

On daily everything is bearish but we are arriving on area of support, a bounce could be seen close to 158.60.

In the uptrend

Be long @165.29 SL 162.47
Be short @162.47SL 165.29

In the downtrend

Be long @156.83 SL 154.01
Be short @154.01SL 156.83