Complex topping pattern appears to be taking shape. Not a huge move implied, really, but if this pair is to ever breakout higher as anticipated by many -- it's time to get that show on the road. This isn't what you want to see if you're longer-term bullish. The best trade here is probably the one from the sidelines for now. If you have a long bias based on "fundamental" CB chatter of "Abe-nomics" -- price action has been saying not enough is being done to keep the Yen from strengthening further (Y pair lower) in the world central bank currency debasing battle royale. Abe needs a much bigger catalyst to set that trade into motion. A few hours ago, I opened a short for a scalp with very tight stops. Quick trade -- not a thesis. Good luck out there!
コメント
motleifaul
⋅
If this was a topping pattern the price should have fallen further. Are you still short?