Learnt this one before but slipped up.
I had shorted GBPJPY at around the 157 level on a Head and shoulders and risk aversion to USD/JPY theme just emerging. See Chart
Then on Sunday Night I saw a Forex Income generator Long on GBPJPY which was direct divergence.
So I sold out to play it safe for a very small loss.
GBPJPY then opened at 153 in the mroning and 400 pts were lost.
Chart alongside shows trades...
Then I chased the trade short and picked the bottom : - ( , the thinking being medium term it will push further down, it reversed as it had probably overextended on one day..
No comments:
Post a Comment