Saturday, January 21, 2006

Forex Trade Review

I apologize for the lack of updates. I've had a sick friend and I've been out of town for the past few days. I'll be back monday morning with another trade idea and chart. Also, I fix the problem with my latest chart not pulling up on that USDJPY trade. Just a quick updat on that trade. It was up a max 60 pips before it reversed into the negative side and then back close to BE. USDJPY closed the week at 115.27. I entered at 115.19.

One thing to think about in this position is that I'm going against the dollar which may not be a good thing during this time of year. We're getting Nov. economic reports, and the end of the year is usually a good time for the US as far as economic growth. But I'm going with the short term downtrend, and by the looks of the daily chart it's an even struggle between the bulls and the bears now. I may have to readjust this position by taking a few lots off. I'll post if I do. Have a great weekend!

- TraderVlad


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