Mar de Leva (swell waves) en Cartagena de Indias - Colombia

Wednesday, July 15, 2009

USDJPY, very low risk Short Entry (H&S Pattern)

2009-07-15_2012

Additionally to the bearish Head and Shoulders Pattern showed above, COT report (Commitment of Traders) analysis (below) for USDJPY, shows that the Non Commercials has been flipped to a Net Short position, after 16 weeks of indecision, which corresponds with the time expended for the H&S pattern to conform.
Rising red line, which shows Open Interest development, means that new money is jumping into the market.

I`ll maintain this trade until the COT report flips again but to a Net Long position and i will do it in a demo account, since is my first time in this kind of analysis.   

 
2009-07-15_2021
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Performance

Here i`ll post my performance on a USD 200 demo account. After trading for 2 months, i`ll create a new one.

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