I just entered the U/J short we talked about in this morning’s WLW. I got back to my computer during the retracement, so on the one hand I’m getting a better price, but on the other, it may be a fakeout. We’ll see, I guess.
Here’s the chart:
Click to enlarge
PT1 94.10, PT2 93.40, SL 94.70, or a close back above 94.50.
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As per my dream last night, I am shorting the CADJPY (… why can’t i dream about monsters and super heroes like everyone else ?), its much the same as Triffany’s USDJPY short and has similar copies to this trade across most of the JPY pairs … check this out …
http://www.screencast.com/t/ODUwNjc5ZWMt
I shorted UJ, took some profit at deep dive, now short again….. What about it stopping for breath at 93.85? I am missing the logic of 93.40….. must be blind…. need some guidance.
anyone else short GBPCHF?
Not it.
93.40 is the top of a deep consolidation near where the 800 might meet up. It was the consolidation that happened the last time this pair reached for the 800sma, before pulling long again.
CADJPY is behaving VERY similarly…crazy.
Thank you. So you are bypassing the support line at 93.85… OK…. I will follow the professor
Thanks
I’m still expecting some kind of pause/pullback around 93.85. So that could be considered the first ‘chunk’ of the trade and then get back in when it breaks south again.
People are liking the USDCHF more than the other USD buy currency’s (eg GBPUSD etc), I wonder why ? … maybe its something to do with the EURCHF equilibrium which means that as people dump the EURUSD they buy it against the CHF maybe as a safer place getting out of any connections with the EUR and GBP (which is subject more to bad euro news as well) … although things aren’t working out cos even the EURCHF dumped today … any thoughts ?
Certainly it makes sense to use the CHF as a safety currency, especially for European traders. It seems to me that the E/CHF dump is indicative of heavy Euro selling coupled with a large CHF pause now buying. That’s what I like so much about the crosses, the different sides of the pair take turns driving it.