The following changes have occurred.
Unfortunately EURCHF stopped out at break even @ 01.0720. Nothing lost but also nothing gained. The move seems to be catalyzed by EURUSD softness which crashed, dragging down the EURCHF cross with it. Currently trading around the 1.0713 level, we are looking for a new bottom before going long again and have placed the following order: Buy Limit 50 lots (5 million) EURCHF @ 1.0630 with a stop of 1.0590 and TP of 1.09. The potential loss from this trade would be $19,975.80 while the potential profit would be $134,836.65.
We have also moved the SL from our 5 million AUDUSD sell from cost to 0.7510 and moved our TP from 0.74 to 0.7350. This means that no matter what happens, there is a guaranteed gain of $17,600 as the worst possible outcome and a possible gain of $97,600 if the target of 0.7350 is reached. I believe that firm US CPI reports this afternoon make reaching this target in the next 24 hours a real possibility. Currently profit stands at $33,100 for this trade.
It has also come to my attention that when I post from the iphone wordpress app that blogs get publicized to all blog followers and not just the approved members. That is fine, we don’t really have anything to hide and I am actually been happy to see some old faces post comments or say hello. However please be aware that due to malicious spam bots trying to make a few hundred account applications everyday, it is difficult to go through the pending list and approve accounts etc. If you want to rejoin the community (it is totally free), then please post a comment here so I can tell the account is genuine and then decide to approve it.