Im shorting 10 contract 6J from December 2012 after (the Japanese election) and its going really well
Today i decided to short 10 contract of 6B because i think the British government will do the same like the Japanese one.
what you think about it?
Im not a fundamental trader so I can't comment about what the Government will or wont do in relation to Japan. Fundamentals really dont impact my trading. But I do also have a longer term bearish bias on the Pound. From a technical perspective the longer term trend is down, we had a nice upwards channel (bear flag) from the beginning of March to the beginning of May, and we've since broken out of the channel to the downside.
I think there may be a little more upside as the market possibly tests the channel breakout, but then I think the larger downtrend will continue.
Just my 2c.
You donít trade the markets; you only trade your beliefs about the markets.
- Van K Tharp