Watchlist for week of August 2nd, 2009

• Here’s the watchlist.

• Pair	Daily	4h	1h
  CADJPY	Bouncing up off of a Trendline?	Struggling at 87.75	Close above 88.00 is a long to 88.50  R:R isn’t right…don’t like the trade
  EURJPY	Tightening its consolidation?	Sticking to a steep TL	Close above 135.15 is a long to 135.70, if it sticks to the TL the R:R could be ok. Close below 134.80 is a short to 134.35
  EURUSD	Large, uncharacteristic move…retracement likely	Doji, w/ potential reversal candle forming	Long above 1.4280 to 1.4385.  Short below 1.4240 to 1.4190
  GBPCHF	Tightening consolidation?	1.800 to 1.7840	Long above 1.8020 to 1.8190, Short below1.7840 to 7.7650
  GBPJPY	Hard to find the big swing	Resisting 158.15 ish, time for retracement?	Divergence and signs of resistance…close below157.45 to 155.30, I don’t like the long right now.
  GBPUSD	Large impulsive moves past peak resistance, probably pullback.	Muddling around resistance, zone at peak of last week’s final candle	Long above 1.6715 to 1.6750 Short below 1.6680 to 1.6645 (1.6585)
  NZDUSD	Divergence and consolidation near resistance, possible retracement using tighter consolidation	Looks to be rejecting resistance	Could be getting to the 800SMA on the 1h chart. Short below 0.6575 to 0.6500
  USDCAD	Double bottom?	Secondary double bottom?	Long above 1.0825 to 1.0900.  Short below 1.0760 to 1.0700 (1.0600)
  USDCHF	Impulsive move, time for pullbacks??	Doji candle stick, next candle could confirm.	Long above 1.0700 to 1.0750.  Don’t like the short.
  USDJPY	Looks to be retesting resistance	Could be bouncing off the bottom trendline going long	Too many conflicting signals.

• I will make a short video that will explain some of my ‘trader speak’ …why there are sometimes two profit targets, etc.
• But I wanted to get you in here and get this going because I feel like the ones that are highlighted might trigger before we have a chance to meet tomorrow. 
• Basically, I’m watching for some retracement after Friday’s big move and it is likely the market will reset itself before it gets going on Monday.
• Here’s a quick video going over my favorites…I only have 5 minutes on these, so its fast and furious, but it says the same thing that I have in the Watchlist itself, so no worries.
• Again, I will take the time to put together more “how to” videos tomorrow, so you get a better feel for options for stop losses and what ‘below and above this level means’.  I just thought we’d get our feet wet with this tonight.

Be good to you!
Triffany

• Recommend on Facebook
• Buzz it up
• Tweet about it