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Thread: King of the Micro - Hot Trader Spotlight
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Old 05-06-2009, 10:27 AM
Terri Belkas's Avatar
Terri Belkas Terri Belkas is offline
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Hot Trade 05/06/09
Quote:
Originally Posted by mkroth View Post
Stay sidelined for the moment. Price is hovering around the 200 MA (downtrend) and the stochastics indicate a reversal to the downside.
USD/JPY does look especially dicey to me to me as well (testing both the 50 SMA and 200 SMA today).

Let's see what you guys think about this one: short GBP/JPY. This isn't necessarily the "best" trade, but one that I figured could spark a little bit of conversation. One trader took the plunge yesterday above 149.00, as the pair has spent the past few weeks consolidating below 149.90/150.00. Personally, I'm looking to buy GBP/JPY a break above 150.00, assuming we see risk appetite pick up a bit (or see a GBP rally).
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