I have mentioned this guy numerous times in this blog because his equity analysis (which ties in with FOREX significantly) is terrific. He doesn't give me a red cent to gush about him...but I do anyway, because he knows the markets.
His name is Jack Steiman of Swingtradeonline.com and, using trendlines and other technical indicators, he discusses his doubts with equities in this pdf that you can download. I have had a lot of doubt that equities would continue to make gains for a while now (even though I have wavered from time to time.) It just didn't make sense that any market would continue up without breathing first. We could be talking about wheat and that would apply.
Anyway, my CAD/YEN trades are profitable as we speak...but they are more intermediate.
Posts
Are These Stocks Naughty or Nice?
5 years ago
I'm with you on the selloff being overdue. Been thinking the same thing for weeks. Are you short or long CADJPY? I was long for the last week, but support was finally broken, as you probably know.
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Short. I'm going to look to take half off @ 80.40 and move my stop to b/e (82.36). I have T2 at 79.30.
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