I don’t enter a trade at a single specific level – with a single idea in mind that I’ve got it exactly right – I construct the trade over time.
The larger time frames and current fundamentals “frame the trade” – while the “finishing work” plays out day to day on the smaller time frames. Weeks can go by while building / working on one trade, as other projects are started – and others reach completion. It’s a constant process and can often grow to include up to 12 – 15 currency pairs at any given time.
Confidence in the “blueprint” is essential as the day to day work can get extremely complicated – much as you can imagine a modern day construction site with all it’s facets. With no “master plan” it’s highly unlikely you’ll see much work getting done.
The short USD trades , as well as the long JPY’s have been paying off – and should continue to pay off, but I’d be lieing if I said it’s been a cakewalk.
USD has much further to fall, and JPY is still ranging / grinding along the bottom. I see larger moves ahead.If you enjoy the content at iBankCoin, please like our Facebook page