My first trade in weeks
April 10, 2006 by Trader Rich
Just like that I'm back in the game. I made my first trade in weeks going short on the USD/JPY. Why did I decide to go short? Quite simply because of the strong resistance directly above my entry. Early in the Asian session today, we saw the pair push as high as 118.69 but it couldn't hold. I'm looking for the pair to come back down to the 116.75-118.00 range perhaps retracing to the .618 fibonacci from the 4/3/06 high of 118.80.
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I was just looking at that trade too, I’m going to hold out a little longer…:)
That’s great news, Rich
Am glad to hear you’re back in the game - as Jesse Livermore said in Reminiscences of a stock operator - “You can’t tell till you bet”
If you keep at it with the same level of enthusiasm and thought that you’ve put into the content on this website, I am sure that you will more than reach your goals.
Look forward to reading about your future successes.