So, there it was. Unusual opening. Some platforms had no problems, while others experienced all kinds of difficulties. Wide spreads, slips and gaps. For the first time in some time gaps of some size appeared. Market seemed to like the news of government change, because Yen became stronger. I decided to play the gap, having to seen one in a long time, but it closed right away, so “fade the gap” was the move. Of course the size had to be small, due to uncertainty of situation. After all, news trade, something that I don’t like.
This produced 50 pips, too bad size wasn’t bigger. It would appear that the move down played itself out, short term at least. I’m going to look for a short term up swing, with a buy order at 132.77. Objective is a very modest 45 pips, but the time frame is small as well. If the price drops under 132.10 before the buy is filled, order will be moved lower.
Mike K.
gbp/jpy at about your target of 150. AFter it broke 153.5 it just got dragged there somehow. I didn’t follow it down though. You mentioned 147 in the same post and as much as I hate that currency, I really would just like to exit all my positions and go full margin down. I won’t. Sold aud/nzd, but Bloomberg went full monty pumping the nzd, so sitting on a small loss, though selling aud/usd is keeping it more or less even.. Not that I like the aud, the RAB congratulating itself for avoiding recession was not cool and they are getting more than a little smug about their great quarter. cad.. I’ll save that for later.
it’s late and i get easily confused. Actually bought aud/nzd. Thank goodness no one pays me for my advice.
Vlad, there are a lot of people who get paid for advice and can’t get anything right….
Beast- we’ll have to see if 150.00 holds, but right now it look like it will not.AUD-NZD I think is a good buy above today’s high, for maybe as much as 150 pips.