I was long USD/JPY last night. If you look at a 5 or 10 minute chart you might see there was a descending triangle forming. I closed out my position so I wouldn't have to worry about it overnight and got back in this morning. This will be a true test of my patience. Long at 117 even.
The channel is for is the bounds with date given I think uSD/JPY wants another drop from 118 to 114 so could be another two week before the rallie for Jan I think U see that in the charts...right?
I could see that happening, but I don't think it will. It's had multiple chances to indicate it might be changing but has failed to do so. Like I said, I'm cautious around 116.70. But a drop to 113.75-114.50 is definitely something I'm considering.
EURCAD Might drop from 1.53 area for a few days Hits 1.5050 Then up to 1.55 ---> then crahses into 1.36 MAjor stuff will happen mid dec IMO
Why the crash? I remember wanting to be long on this at 1.41 expecting a breakout but I kept getting whipped in and out until my account closed. Learned a lot from it. I digress..why the crash?
USD/CAD...is not in any way better then Longing USD/JPY these days USD/CAD Needs another 10 big figures south before the rallie sometimes in april 2007 IMO USD/JPY might go agaisnt U 5 Big fig so ... GL
Just a correction from 1.55 to 1.36 ... USDCAD is a sell from 1.16 area to 1.06 then the rallie... to 1.38 (USDCAD) I am sure everyone thinks USDCAD is Long for a Long time ...it is but not from here heading to 1.06 so with eur/usd south next month EURCAD is also south