Okay....Very, very, very nice trade we had. I have been stopped out on ALL of my shorts for the GBP/JPY pair. I feel as though we may have found some local resistance at the lower boundary of the channel we broke earlier, but I am going to withhold judgement until it becomes clear. Making the same money twice is always super nice, but we don't want to assume and get greedy. No need to front run it.
On another note, here is a chart of the EUR/JPY pair. It appears to have set up a nice Head and Shoulders pattern that has a confirming target around 131.00. I will not take this trade until we break the neckline and hold this level (around 132ish).
Just wanted to post a quick update on the earlier trade and the chart. I will post more if I see something, and definitely if I see the Head and Shoulders developing into something of value.
Happy Trading!
Posts
No comments:
Post a Comment