THE NAIVE TRADER

In my last post I discussed the potential for the market to retrace towards the 113 level and it does seem s though this direction is continuing, and therefore I am going to discuss what further decline I believe might be seen in the next few weeks.  The other day I can't lie things weren't looking good as the market continued upwards and hit the next resistance barrier of the upper ends of 113. But the retrace did happen and if you were to have entered and stuck it out well I guess you got some dolla from it if you now closed your position. What is interesting now is how far it will fall, the 113.008 was were I would of taken most of my profit to be honest if I entered and to my surprise we have fallen further with no holding position at the bottom of 113. After breaking the resistance the market is now faulting on the border og my long-term trend line I put in. This doesn't necessarily mean anything(as I could of drawn it wrong) but I believe it highlights the potent...

University has been taking up more time that I keep expecting which is creating constant frustrations for me in order to find time to look at market movement. But now I have a lil bit of freeedon so gotta have a look at the markets! The USD/JPY market is looking juicy, an opening of a short position could be a motive and this is why I believe so. We have as expected seen the growth expected after the bottoming out in the stoch RSI in early October with the market bouncing off the high 111 resistance zone. But now we have reached the top of the stoch RSI where we have seen a drawback in previous months at the 99/100 region emphasising the uncertainty for further gains without any dip. I am looking at not much further gains for the next week or so at least, a short is looking enticing, with the dip to the bottom of 113 looking likely which is where I reckon the next resistance zone is going to be. Yet depending on how much the dip effects investor confidence we may see further draw...