Sunday, September 25, 2011

Trading Trends

As if I needed to tell anyone to hold cash instead of trying to stock-bargainhunt here.

The investment strategy now shifts to FX. Here's something to look at if anyone even cared.

Everyone's been waiting for BOJ intervention and still it hasn't come yet. Yet it's support is holding out very strong. So a tight stop at 76.00 is feasible for a Long trade when the pair drops anywhere close to the twenties, allowing for alot of upside potential.

Since the SNB intervention, there is only one direction this pair can possibly go. With the peg at 1.2000, this can act as your stop. Thereafter can just take a Long trade and take profit at every new high.

Above are not recommendations to trade. There is huge risk in FX trading. Standard disclaimers apply.


No comments:

Post a Comment