AGGRESSIVE ENTRY OF THE USD/JPY OUTSIDE THE TRADING PLAN – TRADE AT MINUS 8 PIPS
Last night In the Trading room, I conducted analysis for several currency pair.
One of them was the USD/JPY.
Below, is the snapshot of the USD/JPY shared entry:
Thursday, 18, 2010
No BUY/HOLD and/or SELL recommendations!
Legend: S/L – Stop/loss
T/P – Take Profit
The Take Profit is the final destination. Check the various S&R while the
currency pair is cycling up or down.
WARNING! HOT NEWS DRIVERS. Stay away from the reaction!
USD/JPY PIVOT 90.46
Preferred route (NOT CLEAR) in a range bound. showing a slightly bullish
momentum.
BUY 90.86 S/L 90.55 T/P 91.65
SELL 90.08 S/L 90.70 T/P 89.69 (FIB-S3)
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Update, Friday, March 19, 2010
USD/JPY – Bank of Japan “EASE” by raising the liquidity available in the banking
sector. However, the upward move for the USD/JPY was a disappointment.
The pair reached on Thursday the high of 90.79, today, Friday, March 19 the pair
reached 90.70.
No entries were triggered.
I found an aggressive entry at 90.61 an entered the trade. Currency currently at
the price of 90.53. The trade is in a minus 8 PIPS.
Regards,
Efraim
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