Longview Avenue

My newsletter had some good ideas which I took.

Currently long EURUSD & GBPUSD

USDJPY trade is down slightly, but not as much as the other pairs are up.

Currently apx~ +35 pips (net)

Dollar Dollar Yen Y'all Part II

Stopped on AUDUSD

Long @ market

Stop 88.50

Target 95.45

Stop and Go

Stopped out of the AUDUSD long for -63 pips.

Reversed now short @ .8617

Stop: .8700

Target: .8300

Looking for a long term correction.

EURUSD looks ok long after 1.4700

Fresh Week

The dollar trade stopped out on Friday as well.

Oh well.

Attempting a 4H trendline break strategy this week. Watching USDJPY, GBPUSD, GBPJPY, EURUSD, AUDUSD, & AUDJPY

AUDUSD broke the TL upward near close on friday. It's retraced a good amount since, but had we entered on the open of the current candle per the method's rules the trade would still be live. Since there's an opportunity to get in at a better price, we opened a trade @ market .8667 with a target of 130 pips. Stop loss is set just below most recent swing low. If that's breached I'll reverse to short.

EURUSD is the only other pair which is close to an entry. If it breaks the downward TL @ 1.4720 and can close above it by 8pm tonight we'll take a long entry on this pair.

Key levels to watch for the other pairs:

USDJPY 91.00

GBPUSD 1.6350

GBPJPY 149-150

AUDJPY - needs to form a new swing low to confirm a downtrend.

Happy Trading!

AUDJPY long

Quick loss.

-120 pips

Bought on the break of 80.05

Successfully picked a top & was stopped out @ 78.85

Dollar Dollar Yen Y'all

Going long at the bottom of a bearish channel. Targeting what will be near the top of the channel adjusted for time.

E: 91

S: 89.75

T: 84.85

Sell to Close

AUDJPY + 72.5 pips

Re-Entry @ 80.05 stood pending all day. We'll save that trade for if a breakout occurs.

Contemplating an entry idea short too, as there's pretty strong resistance between 79.60 & 80.00

Stop Adjustment

78.95

minimizing risk for the week due to GBPJPY loss

Reversed Position

News yesterday stopped us out of the GBPJPY long.

AUDJPY showed neither bullish, nor bearish tendencies yesterday.

Newfound fuel for the optimism train has been found in Bernanke's comments.

Long @ 78.90

Target 80.99

Stop @ 77.80

Waffle Trade

Long GBPJPY @ 151.29

Short AUDJPY @ 78.43

R/R on both apx. 2.5:1

Limit Reached.

Sometime yesterday our limit of 77.70 was hit.

+100 pips

Awaiting some direction after US equity markets open. Long looks good on the daily charts, but I'm holding out for more conviction.

While we're at it...

...you know, with this recovery stuff...

Anyone remember the social security mess?? Have we forgotten that the 'normalcy' we are struggling so hard to return to is full of lots of old, familiar problems? Are we X'ers and younger going to let the Boomer's just waltz in and drain what pittance is left from those sorry coffers, allowing this while we stand by merely as spectators waiting for new seasons of LOST & House??

More importantly, why are we still willingly paying into a system without a fight, which the majority accepts as 'broken?' Maybe it's just me, but I'd rather be fending off geriatrics rioting in the streets than vigorous, youthful, angry poor. Call me calloused. Maybe I just don't want to be the one in the street. Maybe I'm just salty, as my generation hasn't even had the chance to screw anything up on our own yet. We've been too busy buying hollow dreams marketed & sold to us by the boomers, without looking at the expiration dates on the bottom of the packages.

Forget repackaged toxic assets, the downfall of our younger generations WILL materialize if we continue to purchase repackaged toxic dreams.

While the punks & metalheads are too busy doing stadium tours & licensing guitar hero tracks, the MC's are taking out second mortgages on their bling & licensing ringtones, the emo scene is still just whining & doing commercials for freecreditreport.com, who does that leave? OUR generation's proprietary, old-faithful, whistleblowing watchogs are no longer reliable. Remember the stink Morrison put up when Firestone wanted 'Light My Fire?' Nowadays, much akin to the 'straight-to-dvd' movie, the ink isn't even dry on the album cover (wait, are those even around anymore?) before it's sold off to the marketing industry. "Showwww meee what I'm looookin' foorrrrrr..."

I'm no expert, and surely I'm not claiming to have any answer. The only thing I can think of is to beat them to the punch now, and sell what they're going to be liquidating, and buy what they're going to need. I'm merely trying to hope-out-loud that we younger folk don't get hoodwinked by what Boomer's may define as 'recovery.' We have a long road ahead of us...

Oh, by the way, I'm short AUD/JPY ;-)

AUDJPY short

small size.

short @ market

stop: 79.67

target: 78.43

Oh Suuuuuuure...

Murphy's Law:

The moment you start demo trading, your drawdown will end and you'll make the trade you were attempting for three weeks successfully.

Haha, happy Labor Day everyone!

Enjoy!

Vacation

I've been lightly demo trading while I analyze my strategy a bit. The timing seems good as it'll let this pullback develop properly, or form into a turn downward with some staying power.