Thursday, August 26, 2010

Short that USD/JPY

Been eyeballing shorting the USD/JPY as my next maneuver.  I'm actually trading both currencies ... the dollar may come back down to earth irrespective of the goings on in Japan.  The damn may well have been broken as far as Yen support via threats from their government to depreciate their own currency (weird huh?)

Same game, very mechanical. (click photo to enlarge) MARKETCLUB is saying short this thing and the Guppy 4 hr is identifying a clear cut down trend with its longer averafe and the short term moving averages popped and bunched up.  I guess I could have shorted this last night but my trading brain was exhausted.

I kinda felt a twinge of regret over not taking an obvious short in USD/CHF back down to that support but, oh well, my first month of FOREX trading is wrapping up as a profitable one.

Profit target on this trade is the lows (of course.) Same ole, same ole.  I hope to always be taking the excitement and drama out of this trading business.  This would be something like 75 pips or something.

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