Sunday, August 15, 2010
Time for thinking
No much activity recently, I need some time to clean my mind and plan the new season. Today I was just watching charts of eur/usd and eur/jpy, side by side,on same time periods. A very obvious remark : Eur/jpy had lost most of his shine. The leader now is the euro-usd pair. It is as spectacular as it was the former in the near past. Eur/jpy is a follower now. It cannot lead the movements, its moves are only adjustments of price between eur/usd and usd/jpy. Given also its erratic summer behavior and the bigger spreads, it is maybe time to trade eurusd. But I always have a look on eur/jpy's ADX, to catch the (fewer) high volatility periods.
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4 comments:
Maybe or maybe not. EURJPY peaked on July 27 and then formed a big triangle to "wait" for EURUSD to peak on Aug 6. Both of then fell out of channel on Aug 9. Now, EURJPY has reached 61.8% retracement. EURUSD is still at 50% retracement. Of course, EURUSD always takes the spotlight. Thanks for sharing.
Kevin,
You are correct about the daily chart. But this does not interest me, all i look for is (very) short term volatility. And on this, eur/usd is better recently. Compare the ADX price of both on M. Analyzer, for proof.
You are correct. Thanks again.
We need to be careful that we don’t get greedy for gaining few pips; it’s seriously tough and can be dangerous if we go for collecting few pips without proper management. I’m lucky that I can be secure with broker like OctaFX, it’s pretty cool due to their 50% bonus on deposit, it’s given to use on all investment and can work really nicely, so that’s why I love it so much and can feel pretty safe and secure with everything.
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