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Today is all about if the Dollar weakens

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Today is all about if the Dollar weakens

Postby Alan Rich Online » Fri Dec 28, 2012 11:08 am

I got stopped out of that last multi day trade on the EURJPY near the black line.

I re-entered the market when the US started its afternoon run near the red arrow.

If the S&P futures rise then the Dollar will weaken but the winner yet again seems to be EURJPY. So watch what happens to the S&P futures on Friday. Is all this the start of a new move for Friday?

I took some profits off the table here on the chart below on this new EURJPY move for my full days Friday profits. Now the rest is a free run.

What a week!

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UPDATE!

I suppose really today is all about if the Dollar weakens, the S&P futures rises and the EURO strengthens.

You can see its the EURJPY that benefits if this happens. (Unless some news hits it.) Thats where the momentum is.

You can also see why I took something off the table at the highs in the last post at the ellipse before I caught a few hours sleep. I've already banked todays profits. Today is a bonus.

Its been a brilliant week for traders. Enjoy today, lets see how it works out.

I'm in a no loose position, partial profits banked and a free run on the remaining position. I'm taking it easy.

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Alan Rich Online
 
Posts: 22
Joined: Tue Dec 18, 2012 9:19 pm
Location: London

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