Tuesday, January 12, 2010

$/Yen

The battlefield is fluid. I shorted the $ yen this morning at 92.22, as i felt it was going to break down hard. It has fallen to 91.66 as i write. There are, however, annoying divergence patterns evolving on the lower timeframes against the position.
I think there is the risk of a bounce at the US open and for that reason i am closing the trade at 91.66.

The position was taken with a 1/3 position size, so 56/3 full points can be booked. That is another 18 full points to the good, which puts the tally close to 250 points for January.

Apart from that I have had 5 winners in a row . Long may it last.

Have a great trading afternoon.

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