LET'S PLAY IN THE FOREX..AND NOT GET LOST! Message Board

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Strategies & Market Trends : LET'S PLAY IN THE FOREX..AND NOT GET LOST!

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To: CapitalistHogg™ who wrote (194)	7/17/2007 6:04:49 PM
From: RockyBalboa	of 247

In the past, volatile CPI numbers often upset the currency crosses other than USD before traders returned to the usual carry business. Bernanke + CPI could do it again. Here, my strategy is that I sell into the first waves of weakness (if any...). For the pound this would evidently mean that the first sell happens when 250 is not maintained. We do have an ongoing buy-the-dip mentality in various JPY crosses. In that context a "250" level for GBP JPY is meaningless and one can replace it by virtually any number. Therefore I am still not convinced. One would only short if a subsequent dip is not bought in reasonable time. I need to keep that in mind too. After all the same reasoning led me to stick with GBP-JPY? Having no superior information - why should I sell when no one else is selling...I don't have a crystal ball.

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