|Ratel ||Dec 12, 2019 3:16am | Post# 2150 |
This is a little experiment I am busy with. I normally don't trade based on trendlines only. Looking at the Daily chart it seems as if CJ has been in an upward trend since around 10 October and it is now close to the bottom of the upward channel. I am no purist on drawing trendlines, so don't slaughter me if it is slightly off on one or two points
Let's see where this runs to. I have a positive swap on CJ Longs, so I have time. Just one thing to remember is that the JPY had a huge spike vs other currencies on 2 January 2019. Some people were messing around at that time. Luckily I was away on holiday, but I remember many other people that took some pain at the time.
Chances are that some jokers does the same thing again at the start of 2020, so caution is needed. I will rather not be in the market during the first week or two of next year. Luckily I am away on holiday again, so all my trades will be closed by the end of this year.
EDIT : I now see my trendline could be valid from around 25 August already.