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Commercial Member
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Joined Sep 2006
|1,007 Posts
It looks like the worm has finally turned here and that equities are likley to go into Bear Mode. That wil cause the carry trades to sell off as well and that means EUR/JPY (and the other JPY crosses) look to be headed south for the winter.
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Joined Apr 2009
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Status: temporarily correct
|1,757 Posts
deltaworld,
I'm just a newb still on demo, but I'm only trading ej, so I would love to see this room come alive again.
I need to defer to experience here, does the head-and-shoulders pattern on the daily chart signal a full on reversal, or can it just break the neckline and then continue upward?
I don't trust my own analysis enough yet to determine, and I don't want to find myself with a bullish mentality in a bearish trend.
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Joined Apr 2009
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Status: temporarily correct
|1,757 Posts
So, I will refrain from posting while trying to trade at the same time, since this is not a journal, I just got carried away last night.
Does anybody here trade the asian session? I would be interested in your opinion.
I drew a quick TL on the daily, and price has most definitely broken it, so does this mean that bearishness is the new black as far as EJ is concerned?
There is still some validity to a long bias, but each day wears that down a little bit more.
As a newb, I still remember opening a short position way back at 112, and have concluded that my ability to discern honest-to-god reversals is not what it should be.