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October 2nd, 2008 at 9:51 am

Cancelled trades.

Markets are still waiting for the vote of congress, although the dollar is getting stronger. And not very subtly, either. Same with Japanese Yen. One would less defined moves. There is an interesting possibility to this market action- maybe nothing will happen when the vote outcome finally is announced. You know, buy the rumor, sell the news axiom.
Back to my trades. Both orders in CAD-JPY and NZD-USD are no longer valid. Price moved against me, and did it in such a way, that there is no got point to adjust the trades to. For now, than, I’m cancelling these trades, although I should return to them. Next week, perhaps.
At this time GBP-CHF looks promising on the long side to me.

gbp-chf-10-02.jpg

Plan is to get in at 2.0090, and a target of 2.0225. I don’t want to place too many trades, or orders, before the weekend and the news from congress. Markets can take good news, they can take bad news, but as far as waiting for the news … Well, that’s another story. So, I continue waiting and watch this here Pound, Swissy cross.

Mike K.

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2
  • 1

    I hear you, man. I’m also waiting for this vote. If you don’t mind, can give your email adress? Something I want to talk about.
    Andy.

    Andy on October 3rd, 2008
  • 2

    You can reach me at
    mike@fxmadness.com

    admin on October 3rd, 2008

 

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