GPB/CHF position is around +60 pips now..i reduced my risk to 40 pips but do not add any lottage for now ,as the 4H bar still has not closed above the Resistance..

And probably i will not be back soon enuff to get my position open right after the close.

4H Chart (some stuff is faded out)

Okay , there was VERY convincing price action and so i entered GPB/CHF already but plan to add to this position when price breaks and closes above 2.0000.

Cya later

I went away and hooked an 125pips Trailing stop on the GBP/JPY Position..

It retraced exactly those 125 pips to the weekly resistance 1 ,before continuing its surge.Sometimes the Forex gods have lots of Fun with u ;)

The Position was closed for +117 Pips (could have been +250 by now).

Which brings the overall performance to -82 Pips.

No problem :D New opportunities await us soon.

USD/CAD reacted to the news as I thaught ,but i was hesitant to enter and if one is not sure what he is doing one stays  on the sidelines.

Wheat is negative for now but as i said this is a LONGTERM position.

Only pair i am watching for now is GPB/CHF which upwards surge was also impressive (but i was not @ my terminal while it happened), but if it climbs back above 2.0000 with an 4H Candle close i will jump on this train.

I included the 4H Picture in the 1 H Picture :D Hope that doesn`t confuse anybody *g*

Now i am preparing for Poker and a great meal @ the famous Bluespunkt ;)

Whatever you do ,do it good ;)

GPB/JPY : 100 Pips Locked in, Position+ 175 Pips in this moment!

Target changed to around 205.00

Wheat (Comex):

up 6$ forn now,closed half of position @ +2$ because i miscalculated Position size / if u find an error,correct it asap ! never wait for ur position even if ur allready in profit!

I am quite busy today so there will be no News Wrapup,but be sure to check out the Cryptogon because there are some worthy news items!

Hopefully i can post some items from time to time through the day!

BTW don’t be scared ..i revamped my charts a bit for (i hope) better readability..also  i use a script called “trade naked” which will hide some of my stuff for your convenience.

But did not use it for those charts ;)

Now to the positions:

Targets marked with Red Arrows

Wheat Futures (Comex) 

 Risk :Reward 1 :1  Planed to remain open for a few weeks to months.

GPB/JPY 

Risk:Reward 1: 1,25 Planed for 1day< 

News i am awaiting and watching before considering any new positions:

12:00 GMT Canadian Core CPI m/m

13:30 GMT US  Unemployment Claims

Review them @ the Forex Factory Calendar if u want to know more.

from Freemarketman Blog & Bullionvault’s Adrian Ash

YOU CAN, IF YOU WISH, link the historic surge in Gold Prices starting mid-August 2007 to many seemingly disparate things.

Pick the right link, and you might be able to tell whether it’s worth your Buying today.

One such link is the price of money, as decided by the US Federal Reserve. Gold’s stellar 58% gain in the seven months starting 17th August began with the Fed’s first change to US interest rates in 18 months.

Last August’s 0.25% cut to the Fed’s “discount rate” – the interest rate it charges commercial banks to borrow short-term funds – was the Fed’s first interest-rate cut since July 2003. By the end of March 2008, it became a 3.0% cut to the bank’s key Fed Funds target.

And gold’s initial jump turned into a pole vault…

Read more..