Wednesday, April 8, 2009

Was That My Correction?

A few days ago I was saying that perhaps the AUDJPY would pull back after it's very fast rise up into the 71.xx range.

It continued rising to somewhere around 72.80 instead. However, early last night it was bumping down around the 70.00 mark. Was that my correction?

My three hour (I trade with Oanda) shows leg room all the way to 68.xx if it's thinking about correcting.

That's the trick with Forex trading, you never really know whether it's done going in any particular direction or if it's just throwing you a feint.

What can I say? Roll with the punches.

No comments: