vlad.adrian
Short

CADJPY - Friday - Monday momentum lost

FX:CADJPY   Canadian Dollar/Japanese Yen
159 1 4
Weekly chart here :
snapshot


In his book, "How I trade for a living", Gary Smith talked about momentum lost over the weekend, "Friday - Monday momentum lost". This pattern occurs when, after a close strong on Friday, prices gets slashed on Monday. Since I have been aware of this pattern, I can say that it is very rare and very accurate.
17.12.2014 closed position
snapshot


I should have closed it earlier, but I thought that the FED will make the Yen rally due to stock market declines. However, oil rallied strongly today. At the end of the day, it was a great trade. Too bad it was too small (only 1)
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