Friday, December 09, 2005
Much to my disappointment there have been technical errors. I had 2 post and only 1 made it to the site and 4 days late at that. Please note the post on Monday. I entered the GBP/JPY on the 7th at 209.90 and it is breaking higher. No good news from Japan is good news for this trade. Oil has also been rising this week helping the GBP side of the trade. I was taken out of a number of my trades on tightening my stops. All of the trades exited were profitable. I am waiting for another entry on the USD/CAD but with no luck on a break out yet. This is actually a good thing. The more time it spends in the channel and the tighter the channel the more pressure it will be under when it breaks out giving a greater opportunity for profits. Friday is usually fairly quiet. I anticipate the market will pull back some and calm down for the afternoon. Next week could be full of opportunities.