| Crying Wolf |
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20:42 2007/03/28 |
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I have been apprehensive about selling any Yen cross pair as of late. My leading opinions do not count as much as certain price configurations do. The EUR/JPY has nowadays been hovering actually above the level I shorted on February 16th. This reminds me of January 3rd, this year. I have some regret that I did not sell any of the Yen crosses dealable with my model account's broker on that day. I know I should have put on at least one short position, most probably in the AUD/JPY - the right signal was right there, daily chart wise, on January 3rd. Remarkable market movements are exceptions often preceded by 'crying wolf' sequences. Nevertheless, I think, the big money is made rather out of pain than comfort. |
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