How to go poor trading FX, part I
Sell dips in Asia!
Yes just occasionally the market starts a move in Asia but don’t forget that the bottle is notoriously empty during this session and the market gets itself very quickly very bearish. More often than not, Europe walks in, says ‘what the hell was Asia thinking’ and promptly reverses whatever happened here.
In other words, don’t get bearish at the bottom during Asia. Its usually the guy who waits for the silly dip who makes the easy bucks.
Chinese stocks now off their lows, -1.1% for the session. AUD/JPY support at 81.60 holding for now, but only barely.