Near-sure-fire FX trading tactic
November 28, 2005 by Trader Rich
Funny I just mentioned this yesterday but in an interview with Barbara Rockefeller, she states that a "near-sure-fire FX trading tactic is to watch a breakout move in the London morning get transformed into a second breakout move in the New York morning… will probably be repeated in the Asian time zone."
Example:
USD/JPY has major move at 11 a.m. this morning New York time. London traders then exit the market and take a profit between 12 noon and 1 pm New York time. Then the move comes back and surges lower between 1 pm and 3 pm New York time. New York traders then exit the market with profit taking between 4 pm and now. She states that, "If the moves comes back and surges to a higher high by 1:30 pm, when the US market is winding down, then you know it has legs of its own and will probably be repeated in the Asian time zone."
So from this I would think that during the Asian time zone this evening, the USD will be pounded yet again..
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hm, so did it happen? mind updating me?
hm, so did it happen? mind updating me?
Actually, it did not. If I remember correctly, I was watching closely during the Asian session to see if it would emulate the previous 2 but to no avail, her “sure-fire” failed.
Actually, it did not. If I remember correctly, I was watching closely during the Asian session to see if it would emulate the previous 2 but to no avail, her “sure-fire” failed.