Flat trading days - who'da thunk it?

Interesting lessons we learn ... I'd been watching the various currency pairs for the past three weeks and happily assuming that it was entirely representative of market activity. Boy, was I ever wrong! I have now spent the last 5 days watching the currency pairs, almost without exception - dither!

Look at the hourly charts with me:

EUR/JPY:


Here, it's only today that things have shown any sign of activity. I've probably missed the boat on that downtrend, though.

And the EUR/USD while it's showing some signs of activity, has also decided to hover in a 10-pip range between 1.355 and 1.365 since it hit intermediate support on August 28th (of course, I could be reading that wrong and it's actually a 100 pip Move):


I think I've spotted a sweet trade on the USD/JPY: On the hourly chart, it looks as though we're in for a nice little downswing to 115.45 or so.



Confirming on the 15-minute, we see that the trend is bearish and the parabolic SAR is above the candles, indicating that it should continue to head downward for a while ...

I got into this trade just now, selling 10 micro-mini lots at 115.82, with the stop at 116.10 and the stop at 115.50.

Of course, it's now 1 a.m. on the 5th, so maybe it's just tiredness that makes this look like a valid trade: I've already managed to lose 7 pips ... it's now a $6.04 loss so far on this trade ... I wonder if it will ever go back down to my target 115.5-ish range!

I'll look at it in the morning once I get a few hours of sleep. :)

Cheers,
Maya