Congress Committee Approves China Sanctions Bill
September 26, 2010 Update
I hope that everyone had a great weekend. US Congress committee approves China sanctions bill. This will allow US to impose import duties on China, who has fundamentally undervalued its currencies. Yes, we all know that China is holding down the value of its currency in order to strength its export, i.e. cheaper price for buyers abroad. Guess what this is not the panacea to all of US problems. There are other underlining problems that they need to address first. We all need a scapegoat, and the China is it! Just a reminder, this is still a bill and still need more work to become a law. There are lots of political posturing that will take place with the mid term election coming in November.
Back to our trading system, Leah’s subsystems 4, 7, and 8 are currently in buy trades with floating profit of 340 pips. As always, the maximum stop loss is 100 pips, and the maximum take profit is 240 pips. BTW, I know that our systems have been winning lately. Now is not the time to increase your trading lot size. Since Leah’s has been going through a string with winning trades, it will likely to give back some. Leah’s subsystem 2 took a sell trade at 1.35655, and it may be the top. See attached chart. Let’s follow up with it tomorrow.
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