Weekly Thread: Aug 25 - 29

R

rezo_s

Hi all!
Here's what I'm looking for in coming trading day(s):

GBPUSD - short for 1 5605
USDJPY - short for 116 80
USDCHF - long for 1 4420

I don't see any signs of recent move to be weakening, so we may
still get continuation of what we saw last week. Of course
correction is inevitable, but I doubt we are talking about
serious one here. The exit from triangle occurred to be just as
in books, and we got the maximum this formation could give
(talking Euro) - 400 pips of move in direction of break. I called
1 1220 the level of break, and we saw 400 pips down from there.
Such a rapid move opened wider horizons and further room to
move down.

Have Profitable Week,

Rezo

August 25, 2003
 
Targets as posted earlier and here are stops as well:

USDCHF:
sl@1 4010 (3.73%)
tp@1 4420 (7.86%)

GBPUSD:
sl@1 5865 (3.72%)
tp@1 5605 (6.68%)
 
stop @6965 (2.95%)
target half position for 6875, and hold another half open.
For now tp is not put, and I may hold whole position for 6715 (6.47%)
 
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