A global shift? Maybe.

Alright, so here we go this week...

We are seeing some range-bound action in most crosses this week, and for good reason.

There is a ton of economic data coming out in the next few days. My advice for the newer trader? Stay out. THERE WILL ALWAYS BE A MARKET. YOU DON'T HAVE TO MAKE YOUR MILLIONS THIS PARTICULAR WEEK.

I understand that most bloggers on the net will give some technical levels, and tell you long or short above/below, but I think this week is good for observing. Especially if you haven't been doing this for any great length of time.

I do however, feel that most if not all JPY crosses are going to remain biased to the downside. But I still don't think it is time yet.

Besides the various figures coming out, you have interest rate announcements coming out of Canada, the UK, and Australia. (not to mention Sweden, which is expected to hike rates.....not paying attention there, can't even trade it on my platform.)

Anyway, what this means is people will be looking for the wording of these statements. Trying to predict the future, and anytime this happens, we get random noise. The perfect storm for a losing trade everytime.

Also, being that September just started, the big boys are back from vacation, and trying to figure out their next move, which will probably last until the end of the year.

My suggestion is to wait and see what they are going to do.....I have an opinon, (as stated above.) but it's just that - an opinion. I would rather trade on the facts.

Expect September to be interesting to say the least.

I am trading very lightly until about the 18th or so. I figure by then we might see some true intentions.

As a side note, I did pick up about 30 pips in EUR/JPY going short this morning. Good enough for me. (I might right about expectations a little later, and lessons about being a pig. Good stuff to think about.)

Until then, cheers.....


Clockwork