- One of my favorite trading patterns - the long consolidation followed by sudden long candle punching through resistance, much like a submarine periscope.
- Such a pattern is now evident on the USD/JPY weekly chart. Note the similarities between the late 2011/early 2012 bottom and the current one. If history repeats, there will be no better time to enter long USD/JPY than now.
- Trade : Initiated long USD/JPY @ 81.08.
- [EUR/USD gets difficult. Shorts bound to suffer in crossfire of EUR/JPY buying. But clearly, there will be a point when it makes sense to re-short].
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