High Volumes Part III

I'm not sure what has got into the market this week, but it has been wild. Today's volumes across the major currencies were even higher than each of the previous two days. Also, instead of being relatively flat, the last day and a half the dollar has taken a beating. If it continues tomorrow, we are very likely into wave 5 of the Elliott Wave.

If that is the case, I will have to dump some short positions against the dollar. I've been hesitant to do that because I thought that this would be a flat week and not a lot of movement. It is a slow week of economic announcements, and because of the Thanksgiving holiday in the US, it should be slow and flat.

So far, that has not been the case. I have left a lot of positions open that I will have to close because it is really eating up my margin. We will see what tomorrow brings.

Today also marked the first time since March 2008 that the Swiss Franc is worth more than the US dollar. It crossed par value during the European session and gained further ground during the New York session. The pound and euro both gain significant ground against the dollar. The euro really shot up midway through the New York session.

Anyway, I did a lot of trading today trying to manage my positions. I made 50 new trades today, closing 45 winners including 11 older trades, and 0 losses. The net pips for today is +940.7 pips, or 5.79% gain.

Here are the daily stats for Wednesday, November 25, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6586	1.6743	1.6574	1.6702	169
EUR/USD	1.4967	1.5143	1.4954	1.5132	189
USD/CHF	1.0085	1.0094	0.9955	0.9963	139
USD/JPY	88.47	88.61	87.20	87.33	141
GBP/JPY	146.74	147.61	145.60	145.85	201

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com