I did not close my trade on USD/CAD even though it did not execute and I am keeping it in place.
The GBP/USD is currently trading within a downward channel on the hourly charts, should explain why I have placed my trade:
The USD/CHF trade has not completed the Head and Shoulders pattern as yet.
The market rebounded due to good GDP results and the threat from the storm Gustav eased. Currently of course "experts" feel that the state of the rigs in the Gulf are such that they can withstand even a Category Five hurricane. (Personally I think this is just a lot of "bull" and the reality is the price of oil has been pushed so high the market really cannot bear higher prices unless a true disruption took place. The speculators are hesitant to push prices up as this is leading to a global recession which could hurt them in the long run).
Interesting article on CNN.com http://money.cnn.com/2008/08/28/news/economy/oil_gulf_infrastructure/index.htm?cnn=yes
Good Luck Trading and feel free to post questions or participate in discussions.....
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