First off. There was some fantastic input on the subject of trading Eur/Usd the other day from many of you – thank you for that. I’ve been M.I.A a day here, as the allures of soft sandy beaches and warm blue waters are at times – difficult to resist.
I’ve only got a couple bucks in the market anyways – so the subject of “patience” has again come to mind.
Patience plays a huge roll when trading foreign exchange, as trends take considerable time to turn and develop. Unless you choose to drive yourself mad sitting infront of the computer for hours on end attempting to “make sense of it all” I strongly suggest getting away from it for a day or two.
If the larger trends have not been established – you can seriously go crazy “forcing trades” staring at candle pattern after pattern applying your short term technical trading – and still come up with a big fat zero.
I expect the dollar to roll over here tomorrow – so there will be several trades on the horizon.
Patience pays…………..and I expect it to pay handsomely.
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think AUD/JPY is likely to rip teets overnight and into early NY trading….also think USD/CAD is likely to get curbstomped as the loonie has been range bound in the 1.02-1.03 area for far too long…..thoughts?
Im with you on USD/CAD and do plan to take the trade.
AUD/JPY a toss up here, but I’d be more inclined to look the other way as – how much MORE stimulus can BOJ announce over the weekend meetings?
If/when risk comes off (which Im of the mind that it will) JPY should find a bottom here…….”somewhere”.
yes I agree the bottom is near but I think it will be established near the 2009 lows of 100.99….I also like AUD/USD to break 1.03 tomorrow……unless futures tank overnight I like the AUD/JPY trade to materialize
USDCAD on the weekly/daily. This is a nice candidate for a roll.
You bet…..this in particular looks like a fantastic trade.
Good eye.
Ya I’m short usdcad and long eurusd
usdjpy might be setting up for a pullback bad jobless number tomorrowk?
I already took profits on eurusd and usdcad. It seems like risk aversion is imminent and not sure my positions would hold up in said environment
aud/jpy higher – check, usd/cad lower (break through 1.02) – check, aud/usd higher (break through 1.03) check……curtains
I believe its due yes.
Some great trading goin on here guys!
Great work!
Check, check and check!
Fantastic.
I took a small usdjpy short last night when I made a post about it. I’m thinking I should close it given fundamentals and trend…..but. anybody have an opinion?
In terms of capital employed I’m up about 20% usually if I take a counter trend trade and I reach profits of 10 or 20 percent over night I close the position. In this case though the market has to soon have priced in the known qe and we should bottom in yen terms. Also it seems to be a risk on trade and general risk trends have to correct pretty soon….you would think
Looking good again here Jskogs. I like further long JPY ideas here as well.