Mind The Bounce – Tomorrow Should Confirm

It’s been a great run, but markets look set to bounce here with the SP 500 finding support area around 1880.

Long JPY trades closed, as a “swing low” on daily charts ( when tomorrow’s closes “higher” than today’s high ) should confirm a short-term move to the upside.

This will be a bounce, but considering volatility these days one can’t say for certain just how “big a bounce”.

Technical damage to markets is massive. I expect we float /drift sideways for the next couple weeks – offering few decent trading opportunities.

Stack all the cash you’ve recently made long JPY / short risk and go hit the beach for a couple of days. You won’t miss a thing.




2 Responses

  1. Hisham January 14, 2016 / 1:12 pm

    What do you think about the USD right now? I’m longing the dollar but today it is getting beat up…

    • Forex Kong January 14, 2016 / 1:45 pm

      I can’t recommend getting long USD here…..as I don’t expect much upward movement.

      I’m looking at USD trading relatively flat as equities take a bounce….then continue lower.

      Just not enough meat on the bone for me to take the trade.

      Take a shot but go small…….and don’t be afraid to book any profits early/fast.

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