16 January 2013

USD/JPY : Long @ 87.86

  • Re-initiated long at 87.86. This will be my CORE position in this strong trending market. Am prepared to see this go substantially against me.
  • Daily : Already pulled back 62% of the up-leg from 86.81 to 89.66, which is why I picked this level to start. In a way, I am anticipating the start of a triangle consolidation.
  • This is the start of a new series of scaled in buying.
  • In a strong trending market, I'd much rather have something and see it go against me, then to have nothing and bear the risk of it running away from me.

3 comments:

Taichiseal said...

+88.11

Taichiseal said...

http://www.zerohedge.com/news/2013-01-17/guest-post-mr-abes-trigger

Taichiseal said...

Missing trades :=

+89.30
+89.67

Stopped out all @ 89.45