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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Thursday, September 5, 2013

***NEW Trade Alert*** Short USD/JPY

I'm setting an If/Then OCO limit sell order in USD/JPY. The limit sell is placed at 100.25 with a 101.50 Stop-loss and a 91 take profit level. Risk/Reward on this trade is 125 pips/1050 pips = .119. I believe we are either in minute ii of C down or in the C wave of a triangle. In either case, the high at 101.50 should not be exceeded before a move down. It is a longer term trade so I will update the trade as it progresses.

Chart:

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