My “Intraday Trade Alert” seems to have caused a bit of comotion.
I thought it would be a reasonable idea to “follow-up” and quickly touch base on “where I’m at” a full 24 hours later. As per usual my “signal” was a tad early.
USD has most certainly “swung high” here as of this morning, and trades in USD/CHF as well USD/CAD are doing well, with USD/JPY still a tough nut to crack. The weakness in USD has been “surpassed” by even greater weakness in JPY, as the Nikkei Index pushed “once again” right up into it’s over head resistance area.
Would we be considering a full on “breakout” in risk here? And perhaps more importantly – how long would we expect this to last?
I find it a tad “unrealistic” that only days ahead of a proposed missile attack in the Middle East, that investors would be scrambling like mad to buy Japanese stocks no?
As well – considering the “safe haven” aspects of the Japanese Yen ( JPY ) I can only imagine it to “blast towards the moon” should we get firm word that indeed – war on.
Intraday activity is nearly impossible to pin down “forex wise” as these things never turn on a dime, and never happen “all at once”. Trading “small and wide” can make the difference in staying in the game – long enough to hit those “long smooth patches” we all dream about.
I’m very often early…..but rarely ever late.