Jimmy Young thinks Capital Flow Data are very important. I agree. His advice: If headline greater than 100 - buy dollar. If headline less than 70 - sell dollar. www.eurusdtrader.com
i read the boj stopped their intervetions in usdjpy - so they should be buying less us treasury bonds - so the capital flow could have decreased. and when demand for us treasuries decreases, that would point to a weaker dollar. ps: thanks for the great eurusdtrader.com link!
with the nikkei down over 344 points and the usd/yen falling no im not short but i wish i were. i did not put the trade on. big mistake.
Dear Angel and rax, Don't cry! You were right. That's important...It gives more confidence to take action the next time.
why not go long usdjpy, eurjpy? the long term trend would be with us. maybe the drop today is buying opporunity?
but i was wrong though on the 114.56 buy trigger. i would have gotton stopped out on that one. it is most telling / these price triggers located within the 4hr chart. that is where i got them.
according to the 4hr chart we may possibly have another 120-150 pips more to go to the downside. if i get hit on the 3rd sell trigger then that should be the begining of the selloff. i will have to wait and see though.