Cerebro1's  Instablog

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I am currently working as a Currency Strategist at the Trinidad and Tobago Unit Trust Corporation with responsibility over the TTUTC Global Bond Fund. I was previously responsible for the TTUTC Universal Retirement Fund. I am a graduate from the University of the West Indies with a Bsc. in... More
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  • Bulls Make Money, Bears Make Money, Pigs Get Slaughtered 16 8 2012 1 comment
    Aug 16, 2012 3:04 PM

    I took a long position on EURJPY a couple weeks ago and it finally hit my profit target. Patience is a virtue. If any trader tells you that he's a 100% sure on a position, he a liar.

    EURJPY was falling at the same speed as EURUSD and became oversold the same way, giving me the incentive to monitor an enter. I had taken the position earlier but it hit my initial price target and then I got stopped out at break even. The opportunity returned and I decided to go for it. Little did I know that I jumped on a 2 week roller coaster.

    In the end it worked out. Today I hit my initial profit target and it's a wait and see for how far up EURJPY can go. My bet is 100.80-101. Although I take long positions in the short term, I am still of the view that winter is coming. Perhaps in September.

    Over the next 2 months my view on EURJPY is that it will hit a wall @ 100 and re-test lows of 95.

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  • Aveda
    , contributor
    Comment (1) | Send Message
    looking forward to September and all it will/won't bring.
    27 Aug 2012, 03:42 PM Reply Like
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