Wednesday, February 17, 2010

AUDJPY: Range Or Reversal?

The AUDJPY has had a nice run just recently.

However, the 1HR is showing a small double top. Obviously, we might be looking at the beginning of a range discovery action or perhaps even a reversal if we get renewed panic concerning Greece or similar situations.

Be patient and look for good opportunities.

Now if only I can take my own advice... ;)

2 comments:

Nick said...

Rookie, did you take you own advice? I couldn't sit on the sidelines any longer while coding my robots, so I put in a manual trade!

http://becomingcapitalist.blogspot.com/2010/02/look-ma-i-called-top.html

Rookie said...

Nick,

Thanks for dropping in. It looks like you've got the makings of a fine blog in the works.

In short, for readers here, I did take some profits off the table.