Intraday Market Thoughts

Always Question your Thesis

by Ashraf Laidi
May 8, 2019 14:57

Two weeks ago, as USDJPY was testing 112.50 and gold was threatening 1265, I issued a video to our Premium subscribers informing of an important correction to an earlier thesis I had made. About one week prior to the video, I mentioned there was a possibility for USDJPY to extend its gains to 113.80 and gold to test 1220. Those possibilities would have been negative for our existing Premium trades (Short USDJPY and Long XAUUSD). But one week later, I issued the video (April 29) in order to correct my thesis, citing the reasons to those corrections. The video deals with the intricacies of head-&-shoulder formations (inverse and regular) and how easy it is to make mistakes. The correction meant that shorting USDJPY was the correct course and 113 would not take place. Today, the Premium short USDJPY at 111.30 is approx 110 pips in the green and gold is back in profit.  Here is the full video, which I believe is a great educational tool using real-life imperfect examples.


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