Thursday, September 6, 2007


We just saw a USD sell off against the majors as Pending Home Sales came in weaker than expected at -12.2%...

I would like to make an adjustment on our trade as we have major news events coming up this week with ISM Non-Manufacturing data and Non-Farm Payrolls.

Close half our position at market (115.10) to lock in +90 pips. Adjust stop to 116.50 on remaining position. Continue to target 114.00

Good luck!

Stop Adjustment: 2007-09-04 08:30

It was a nice long holiday weekend here in the U.S., but it's time to get back to work with a little stop adjustment as our trade goes our way in USD/JPY.

The pair has moved lower during the morning European trading session, making a low around 115.30 before retracing back up to 115.50.

I would like to reduce our risk in the trade progressively by adjust our stop with every 50 pips movement in our direction. So...

Adjust stop from 118.00 to 117.50.

Looks like risk aversion in the market as USD is currently making a small rally against the majors, except for the Yen. We will see more volatility this week with major reports coming out of the US, so stay tuned for trade adjustments or possible scenarios where we may have to close our position prematurely. Good luck!

Trade Update: 2007-09-01 10:50

Our trade has been triggered short at 116.00 as the pair rallied to 116.50, but shortly fell before the end of the trading day back below 116.00

Again, I stand on the view that we will see more risk aversion to come as we continue to get more and more data on how bad the mortgage mess will effect different aspects of the economy from jobs, consumer spending, economic growth, and so on.

So, we will hold on to this trade and stay tuned for stop and profit target adjustments. Good luck!

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