Long Term Position updates
I haven’t had much of an opportunity to update our trades of late as there has been much happening with my business. We have had some fantastic progress with our training business and our Expert Advisor(EA) developments have taken on some serious traction.(More on that later)
The last trade post we had done was on Usd/Jpy, long term, purely a fundamental trade setup, based on the political unstability issues in Japan. The trade had worked out well for the first 200 pips odd, but there wasn’t enough strength to take the usd/jpy beyond the 95 level.
USD JPY Long term results, we had foreseen this almost 1 month ago
Thankfully, for NFP release last month, Aug 7th, Usd strength had a beautiful spike up till just before the 98 level. We had scaled out partial profits at this level.
However, the trade didn’t materialize beyond this level and retraced back to the 93 level. As the election results came out and market sentiments favoured much stronger to the opposition party coming in rather than the ruling party, it wasn’t favourable to hold these positions any further. At this point, we closed the trade.
Happy Trading,
Seeni
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Seeni J G
