Watchlist Updates for Tuesday, August 31, 2010
I like the JPY pairs today. They’re all lined up to do one of 2 things. Either begin the double bottom process (4h) or break significant support and nosedive. The nosedive actually seems more likely to me at this point since risk aversion is risk aversion, no matter what the BoJ does with money supply. But I’ll wait for a signal, there is reason to watch for either direction.
The only other setup that works for the way I trade is the E/U, 4h, potential double bottom or nosedive on that one, too. Everything else looks irregular and any trades I might have taken triggered during the Euro session.
How about you? Are you even trading this week? I wouldn’t blame you if the answer is no. 
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at 
OK. Pretty scary, huh? Yeh, I have hung on to my very small GJ long. I can’t pick the bottom, but I have faith that longer term, Long is the place. O/W, cooking and stain the office floor tomorrow….
So, Ms Trif, Still thinking the GJ will consolidate and head further south????
As pretty as that double bottom would be and as much as I’d like to see some market confidence build, I do think there is further shorting to come. I think the pause is from a bit of a surprise in US consumer confidence data, but I don’t think it can hold.
Trif, I agree. And next leg down….. could be one of your “compulsive” puppies !!
Nite nite……… closing office.
Exactly! That may be difficult to time. Sleep well…we’ll see if something better comes along tomorrow!!
WOW! GJ 1hour….look at that resistance level……. 130.049…. maybe 50 hits…………
But……….. my other chart of GJ (different clock) looks quite different. showing the possible urge to reach a little higher……………….. Hmm…. what do other 1 hour charts show?
Here’s my 1h chart http://screencast.com/t/M2VmZDk2YT
Thx. At the moment, I am shorting EU….
US session is closed Monday……………. ?????????? right? not right ?
OK, the GJ went sailing right through to resistance………. the rat…. refused to do that for me when Iwas short…………………………… Grrrh
Is anyone else short the EU? I hope price is headed to 1.275………………. thoughts?