GBP crosses/JPY crosses/Trade Ideas

Look for swing trades on NFP lottery Friday

I’ve just laboriously worked my way through about 25 different pairs, all on the short-term charts, and I couldn’t come up with one decent looking trade possibility. Those that look bearish are already oversold and those that are overbought are in bull mode. It also seems that any pair that is range trading is near to the middle of its range.

As we all know, there are times when the markets are simply very hard to read.

Pick a volatile pair like GBP/JPY and look for decent intraday swings, that’s the best strategy I can come up with at the moment.

  1. Couldn’t agree more Sean. Everything I’ve looked at is also in the middle of the range or at the wrong extreme and so on. I may have a go post NFP with EUR/JPY (again) if there’s an over the top spike up (doubt it but who knows) but all in all a bit of a vacuum. At this rate I’ll be running the ruler over the Botswana Pula!

    Always next week. With no current core positions, the last thing I want is to be stuck with a trade over the weekend with little conviction. Hope you have a good time away and come back refreshed and smack bang in the middle of a purple patch.

  2. Hi Sean, I thought I check out your blog before I sign off for the week, and I’m sooo happy I closed all my trades after the NY fix (short AU). I closed my short EUR/JPY trades earlier today when I saw that USD/JPY closed the day above 100.00. There are some pretty wild conflicting long term predictions out there right now and I couldn’t agree more with your view. It’s better to be flat than to chase the market at these levels. Have a great weekend, everyone.

    Susanna

Leave a Reply

Your email address will not be published. Required fields are marked *