Tuesday, November 23, 2010

$ Yen

The $ Yen is showing a strong reverse divergence pattern which was today confirmed by a multiple outside bar chart pattern. I shall be looking for a low risk entry short of the $ yen tomorrow assuming the bar chart structure on the pair does not change between now and midnight GMT. Alternativly a sell stop can be placed at the low of today. This will take a significantly higher stop.
I will update when I see a low risk entry point.
Good trading
David

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