FYI this rally was caused by Jap vice finance minister saying they are watching forex rates very closely and do not want exchange rates to have a negative impact on their economy. Read that as a veiled threat of intervention.
That could have 2 effects I guess. The pro's will either short the crap out of this thing to test them, or they will be too scared to short it for fear of having japs ram 1000 pips up their butt when they intervene.
looks like a bull flag setting up on 5min at the moment? but i have no idea which way its going to go (being up 300 pips from the low of 143.10 overnight. i doubt it will go a huge amount higher today, average daily range is 330 pips).
I have been bullish all along waiting for LTL to be broken before I turn into a bear. It was broken this morning but not for long. I am just a bit hesitant right now to go long for fear the 'pro's' may decide to sell it down to test whether the japs will intervene or not.
That could have 2 effects I guess. The pro's will either short the crap out of this thing to test them, or they will be too scared to short it for fear of having japs ram 1000 pips up their butt when they intervene.
looks like a bull flag setting up on 5min at the moment? but i have no idea which way its going to go (being up 300 pips from the low of 143.10 overnight. i doubt it will go a huge amount higher today, average daily range is 330 pips).
I have been bullish all along waiting for LTL to be broken before I turn into a bear. It was broken this morning but not for long. I am just a bit hesitant right now to go long for fear the 'pro's' may decide to sell it down to test whether the japs will intervene or not.