Testing Barriers and stop losses

This morning there has been a bit of volatility as many currency pairs have pushed to the years or multiple year extremes. These attempts have included a bit of volatility and I have been stopped out of a number of trades and still have signals to get back in to the trades. This can be aggravating to be stopped out and have the trend continue, but it is better than taking to much risk. So, even though I was stopped out of the Eur and the Cad, I am back in those trades.

I have added to my gold position as gold makes an attempt at $700. This could be big. About 6 months ago I commented to a number of trader friends that I wouldn't be surprised if gold broke $1000 within 2 years. It certainly appears to be headed that direction.

Now pay attention here. FOMC Interest rate announcement. What is it going to be? Even though Bernanke said he may be done raising rates, analysts are expecting we are going to get another rate hike to put the discount rate to 5%. If the analysts are right and the market is expecting this, imagine the implication if there is a no rate hike. If the market has priced in the hike and their is no hike, we could see 150-200 pip move after the announcement. The question is, is the Eur/Usd reflecting expectations of a hike, no hike as Bernanke hinted at, or something in between. No matter what happens, I expect a lot of action tomorrow. Maybe a good scalping time. This could be another reason to play gold, due to uncertainty.

Below are the current positions. Note the entry price has changed due to new positions or adding to previous positions.