QuoteDislikedWorking out quite well, this trade.
Also, took a long here of this expanding triangle Usd/Jpy with bullish divergence. If we can get above 81.50 I'll move to BE. Not a straightforward trade at all. Not a great set up, but could go far.
i did buy the USD/JPY yesterday morning at 81.25 and closed out for 30 pips.
i traded it off of the descending support line (which you show in your chart post) coupled with the 'rumors' over the possibility of a BOJ intervention which did not occur (yet) so when that news was released it was also a decent short.
i will look to buy it back........Adam Button (ForexLive) pegged the 10Y US Treasury at 1.90% about equivalent to about 80.00 for the Yen but the S&P seems dogged about holding 1380, at least so far.
i still think that all it takes is a 'word' from BB to rally equities, and also think that the central bankers are probably into a 'Pavlov (FED) disciplining the dog (market) kind of mode . in other words the FED has bluffed its way through the past 6 months or more without actually having delivered more stimulus although it has consistently inferred it directly or through bum boys like Jon Hilsenrath QE is coming..........i think it is a play and is all scripted to manage perceptions.
that kind of element present makes it more difficult to trade fundamentals and/or technicals for the simple reason one never knows when the troll comes out of hiding to kill off some more shorts
thanks for the kind words....last night was another rough one but i feel like the worst has passed.