While waiting for the BoJ news, I am going over my recent trades and once again note how my system has come good, even in this uncertain news event scenario.
I was short EJ and UJ as per the system last Friday, and got out at the end of Friday with a small profit, due to my nervousness ahead of the BoJ news. The worksheet tracking system trades is still short and it has racked up 100+ pips in EJ and 50+ pips in UJ.
I still would not have held the trades over the weekend, as I have painful memories of what can happen over a weekend – the Lehman news, bin Laden’s death, many examples of politicos speaking and moving markets. Just too risky.
Anyway, lets see what the BoJ brings now, any minute. From the charts I am expecting huge upside in both pairs, but its better to wait for confirmation even if it means I miss some pips.