well today cost me 600.00 thus far. Here are positions going into tonight. I reduced my size as per loss rule.

Pips Mean Nothing

Here is a perfect example of pips not meaning anything. It is the size of the position that maters. I flipped EUR/USD and went long. Notice the pip count but who cares as the dollar count is what is important.

Here is a 5m chart of eur/usd. Take notice of the 60band reject. This little move was good for 8 pips.

The red line is my tgt for this short term trade...

Often you will find channels on different time frames that look good. This is a 5min chart of USD/JPY

TEA BAGS!!!

I’ll do it in a heartbeat!

(Me too !!!!!)

Could be interesting if people actually participated.
Why not?

There's a storm abrewin'. What happens when good, responsible people keep quiet? Washington has forgotten they work for us. We don't work for them. Throwing good money after bad is NOT the answer. I am sick of the midnight, closed door sessions to come up with a plan. I am sick of Congress raking CEO's over the coals while they, themselves, have defaulted on their taxes. I am sick of the bailed out companies having lavish vacations and retreats on my dollar. I am sick of being told it is MY responsibility to rescue people that, knowingly, bought more house than they could afford. I am sick of being made to feel it is my patriotic duty to pay MORE taxes. I, like all of you, am a responsible citizen. I pay my taxes. I live on a budget and I don't ask someone else to carry the burden for poor decisions I may make. I have emailed my congressmen and senators asking them to NOT vote for the stimulus package as it was written without reading it first. No one listened. They voted for it, pork and all.

O.K. folks, here it is. You may think you are just one voice and what you think won't make a difference. Well, yes it will and YES, WE CAN!! If you are disgusted and angry with the way Washington is handling our taxes. If you are fearful of the fallout from the wreckless spending of BILLIONS to bailout and "stimulate" without accountability and responsibility then we need to become ONE, LOUD VOICE THAT CAN BE HEARD FROM EVERY CITY, TOWN, SUBURB AND HOME IN AMERICA. There is a growing protest to demand that Congress, the President and his cabinet LISTEN to us, the American Citizens. What is being done in Washington is NOT the way to handle the economic free fall.

So, here's the plan. On April 1, 2009, all Ameicans are asked to send a TEABAG to Washinton , D.C. You do not have to enclose a note or any other information unless you so desire. Just a TEABAG. Many cities are organizing protests. If you simply search, "New American Tea Party", several sites will come up. If you aren't the 'protester' type, simply make your one voice heard with a TEABAG. Your one voice will become a roar when joined with millions of others that feel the same way. Yes, something needs to be done but the lack of confidence as shown by the steady decline in the stock market speaks volumes.

This was not my idea. I visited the sites of the 'New American Tea Pary' and an online survey showed over 90% of thousands said they would send the teabag on April 1. Why, April 1?? We want them to reach Washington by April 15. Will you do it? I will. Send it to; 1600 Pennsylvania Ave. Washington , D.C. 20500 .

Forward this to everyone in your address book. Visit the website below for more information about the 'New American Tea Party'. I would encourage everyone to go ahead and get the envelope ready to mail, then just drop it in the mail April 1. Can't guarantee what the postage will be by then, it is going up as we speak, but have your envelope ready. What will this cost you? A little time and a 40 something cent stamp.

What could you receive in benefits? Maybe, just maybe, our elected officials will start to listen to the people. Take out the Pork. Tell us how the money is being spent. We want TRANSPARENCY AND ACCOUNTABILITY. Remember, the money will be spent over the next 4-5 years. It is not too late.

Of course, if you agree with the way things are being done now, just delete!!!!!


Bob Brinkley,

USD/CHF

Here is a 4h showing the drift.

EUR/USD

This daily shows a stubborn down channel that has acted as tough resistance. Bulls need to pop the R/line and take out the simple 50dma. I'm bull here out of the channel and will remain a bullish tone as long as 1.2440 area holds.

GBP/JPY

GBP/JPY daily is currently trying to get out of an inverted head in shoulders pattern. Needs to bust up through this consolidation area. Trend line still in place so this is a plus for the bulls. Now should we drop out of this consolidation zone I'd get bearish. Bull pattern tgt is also highlighted.

Soup Line

Well the bailouts continue thus deepening our financial problems as a nation. We seem to think by throwing good money into a bad investment is going to restore confidence. The problem is investors do not trust anything they see, companies balance sheets mean nothing. One company I have deep respect for is AFLAC. In fact this is about the only company I can say I trust. The CEO refused his golden parachute and recently declined his 2m bonus.
What about all the fraud that we are seeing. Suddenly those astute traders that have been ripping off the public are starting to get caught. Much damage has been done to the markets and until confidence is restored I expect this year to be more of the same.
Volatility continues to rear itself. If one is to venture into the markets I recommend trading small positions with lose stops. I’ve been using the weekly charts to figure out position sizes. For the most part it is not even worth the trade as the position size is minuscule…
I do see some concern with every time the government puts out a statement and it moves the markets 100-200 points in less than a few minutes. Just remember the more they (GOV) gets involved the worse things will get.

I think we are near depression status. Our country is derived from credit. This is ugly as those who are living beyond their means will probably be thrown a lifeline from the GOV. This punishes those who have managed their money and folks this is wrong. I predict everything that the Obama team is talking will happen in opposite fashion. http://economywatchblog.dallasnews.com/archives/2009/02/heres-the-scene-today-in.html

GB

GBP/USD

This daily chart of GBP/USD shows a possible inverse head-and-shoulders pattern. The trigger would be the pop over the neckline. Pattern target would need to be adjusted as to where in time if at all it triggers. I like this chart long over neckline.