- Tale of 2 inverse SHSs. This is the happy one. The other (EUR/USD) is still playing out.
- Since the very first buy signal at 80.61, we are now 8 big figures higher, and a lot closer to the SHS objective of 92.45.
- Clearly, risk reward is slowly shifting away from favoring taking very large long USD/JPY risk, even if uptrend remains strong.
- Have taken off half of my long position at 87.77 and 87.85 today. Happy to let the remainder run with a trailing stop.
- Until we see this pause and consolidate and form a new base for sensible placement of stop loss, I will not ramp up JPY risk.
- This USD/JPY trade has rescued me from near account destruction. Margin account has been restored to where it was in Jun12 last year. Slowly slowly making it back.
04 January 2013
USD/JPY : Changing Risk Reward
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