CURRENCIES
Eventually the Euro / Dollar September broke the support of our long waited triangle and so we are short. We place our stop loss on the bar before che day of the breakout plus some ticks in order to avoid to be trapped in false pull back. It seems a good trade in consideration of the strenght of the breakout with a long red downward bar.
EQUITY INDEXES
We have a long position on Russell which is getting fatter and fatter but we do not like how much time it takes. Breakout are profitable if money comes in quickly and not after too many days. So we start to be worried about this trade, even if macroeconomic conditions in US are good and we do not expect to be any surprise at the horizon. We know that the Friday closing price is close to the congestion resistence, but this does not mean anything: a congestion is a congestion up to when there is a breakout … On the Swiss Market Index we are long since a lot and we are glad about the long trip. Before this we had a bad series of losing trades so the sun never shines always on a trader's sky. I know nobody is interested in Germany and no Aschaffenburg participants will do the same but we entered long with 4 emini contracts on Friday on the Italian SPMIB40. The technical situation is similar to the SMI one, breakout of the highest high, but we have a doji on the full index and this is often deathfull. Since we are breakout traders we cannot turn our finghers on and we had to act. We will see.
BONDS
EuroBund flies high in the sky and we are happy of that. But we are happier seeing that our entry price is already under the stop loss.
