Thursday's Bernanke Dive

Well, as per my previous post, Bernanke maintains his negative signal status.I'm happy to say I was trading the AUDJPY downwards today. I don't usually trade the downside, as I don't like the chance of being caught in a negative interest income position, but with Bernanke on the microphone, I just couldn't resist.I also had some very well behaving trend lines on the 1hr and the 5min charts.

The Bernanke Signal

If you haven't noticed, Bernanke has turned into a Forex signal.The market will rise, anticipating that he'll say something useful, or helpful, but then he actually starts speaking and we get a precipitous drop in prices.Of course, when rate cuts are announced we will get a momentary spike, but it will only be lasting if the rate cuts are deeper than the market has already built into prices.Keep