07 April 2010

USD/JPY : Textbook Entry

  • Trading at 93.88 now. Low today 93.78.
  • SHS Bottom NL at 93.76. High after breakout thus far is 94.76.
  • As far as entry points to get long go, it can't get much better than this. SHS breakout, pullback to NL. Time to take action.
  • Additional long at 93.83 today.
  • On incremental position taken today, abort on close back below NL.
  • Can apply fuzzy exits to the older stuff in at much lower levels.
  • Also, buy stop-in above 94.76 for trend continuation.

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