Could be, never looked at EUR/JPY. Unfortunately when you trade in pairs that don't involve your base currency, IB doubles your margin requirements (i.e. treats it as if you were holding positions in both EURUSD and USDJPY), which severely restricts your flexibility. I know I've done some dabbling in things like GBP/CAD, but I'm a reformed man. USD/JPY looks to me like it's still heading south, maybe to 117.50 or 117. Then the carry trade should resume. I've set up a modest short, and if/when it gets down to those levels I'm in with all my chips, hoping to get a 700 pip ride augmented by a bit of channel trading on the way up. USDCAD, as I suspected, went up too far too fast and is headed back to 1.04. It will stage a big rally eventually, but not until October I don't think. EURUSD is looking awfully cheap at under 1.37, so that might be a better short-term ride than shorting USDJPY. Maybe I'll split my bets. I know you think it's heading south, but the eurozone economy is still looking strong and the US economy is still wobbling and the pundits are still calling for 1.40.
Going with this trends till oct GL 1.5 Months Index Daily EUR/USD Buy USD/JPY Buy GBP/USD Buy USD/CHF Buy EUR/CHF Hold AUD/USD Buy USD/CAD Sell NZD/USD Buy EUR/GBP Sell EUR/JPY Buy GBP/JPY Buy CHF/JPY Buy GBP/CHF Buy EUR/AUD Sell EUR/CAD Sell AUD/CAD Sell AUD/JPY Buy CAD/JPY Buy NZD/JPY Buy GBP/AUD Sell AUD/NZD Sell AUD/CHF Buy EUR/NZD Sell USD/SGD Buy USD/HKD Sell
I agree with most of that excepte USD/CAD Sell. I am staying out of USD/CAD until it gets back down to the 1.03 range, and then I'm buying for the long hold. Right now I'm in USD/JPY at 117.98, waiting for others to reach favourable entry points. Suspect I've missed the boat with EURUSD. IB doesn't have all those pairs. It does have HKD, but I'm staying out of that because it moves like molasses, and I'm sticking to xUSD or USDx because of the IB margin problem. What will happen in 3 months, nobody knows. I expect USDJPY to move up in about a 150-pip channel, so I've set a trail to kick in at 119.25. I'll reverse at that point, and try to buy back in trailing from 118.50. After that, we'll see.
GSP CHEKC this out bro 1.00667236 0.988583289 1.008426681 0.991235588 these are coef with close but two types if USD/JPY Close below previous Then Long Using Close*0.988583289 and Short or Close Position at same Close*1.00667236 if Close Is above previous Then Long at Clsoe*0.991235588 and Short at at Close*1.008426681
GSP Check on USDCAD I think U are right Did some on Weekly Data I do Have uptrend on it cycle for that is about 9*3 weeks=25 weeks say... On daily some down trend still 9*3 days cycle say another month.... so IMO with this conflict in Trend ---> slow down is Normal... Probably this 1.03 is AVG lowest point for a 7 Year North rallie Good Call Bro
Buying Cable today Pr(OK) High Low 90.32% 2.0560 2.0321 92.65% 2.0568 2.0315 95.05% 2.0580 2.0308 96.54% 2.0589 2.0301 97.68% 2.0599 2.0295 98.49% 2.0609 2.0288 99.04% 2.0619 2.0281 99.41% 2.0629 2.0274 99.64% 2.0639 2.0268 99.79% 2.0649 2.0261 99.88% 2.0659 2.0254 99.94% 2.0669 2.0247
Pr(OK) High Low 90.32% 2.0560 2.0321 92.65% 2.0568 2.0315 95.05% 2.0580 2.0308 Hi GS for the above using conditional statistics (Just normal AVERAGE and Standard Deviation. SOrt of stratifying the close as being Higher or Lower then the day before will send you this file