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readtheticker

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readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

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Yen Rally Nearly Done

Hand Wringing

Every last point of profit has been squeezed out of the USDJPY move.

NOTE: The inverted FXY (ie +FXY with readtheticker.com) equals the USDJPY trend.

Trading plans to get great or even good returns on the long USDJPY trade in 2016 is unlikely. The move is long in the tooth and the energy from the Wyckoff 'Cause' looks done! The move was a perfect money maker, but nothing last forever.

This move involved selling the YEN and buying USD, this means the the long $USD or DXY trade will be losing a good friend. Traders knowing the $USD has little ground to make will start to build positions in opposite $USD trades like gold, silver and crude oil.

Yes the $USD can go higher, yes the USDJPY can go higher. The point is not far in our view

Japanese Yen Inverted Weekly Chart

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"I was brutal in self-analysis. He told his sons his conclusions: "Successful trading is always an emotional battle for the speculator, not an intelligent battle."...He knew that his biggest enemy was his own emotions." ~ Jesse Livermore

"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." ~ George Soros

"How many millionaires do you know who have become wealthy by investing in savings accounts?" ~ Robert G Allen

"The first rule is not to lose. The second rule is not to forget the first rule." ~ Warren Buffett

"Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." ~ Warren Buffett

 

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