DislikedPT,
I remember you saying late last week something about possibly shorting USD/JPY when it hit 90 or so. Could you tell me your reasoning behind this move? I know that the Daily and Weekly are extremely oversold at this time and needs some sort of retrace to form a new higher low. Or at the least some consolidation...
I was also looking to short AUD/JPY depending on this week's close but still waiting for confirmation.
Hoping for some input from you. Thanks!Ignored
Actually what I said was that I would not be putting any sell limits on but I would be interested to see what happens at 90.00 and look to short if an opportunity presented itself. The fact that we have yet to form a lower high on the daily chart, has me sitting on my hands on this one. Even as I type I see the U/J already breaking Friday's high. It seems to me that the market wants to be risky and in that light I also see the Euro climbing higher to retest (and probably break) the 1.3400 barrier for an overshoot before things cool down a bit. I will be using the SP500 as my guide. Once I see 1550/75 area tested, then I think the bull party will be over... as least for a short while anyway. At that point I expect either some significant profit taking, or some economic or political news to spoil the party.
Those who say it cannot be done should not interrupt those who are doing it