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Jamie's Trading Program: 05/21/2013

Jamie's Trading Program: 05/21/2013

Jamie Saettele, CMT, Sr. Technical Strategist

Updates for this morning...

A USDCHF move towards at leats 1.0100 is probably underway and the market is responding well to .9640 support. Several days of sideways action is welcomed by this bull...in order to increase positioin size with a tigher stop. If price can hold above Monday's low for all of Tuesday, then expect to increase long exposure for the next run.

The GBPUSD is nearing possible support from 1.5127 but given picture bearishness from the 4 year triangle break in February, one should just let the downside play out. Stops from Thursday's 1.5315 short entry is moved to 1.5285. LET IT RUN.

New NZDUSD shorts are working and the downside is significant.

Have yet to return to the AUDUSD short side as was looking for .9860 entry (last night's high was .9840). Will see what happens Tuesday before making a decision.

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