Monday, February 06, 2012
Today's Trade Minimize
Feb 19

Written by: Trader
2/19/2009 9:30 PM 

Sometimes the best trades set up at the point of maximum danger.  The Japanese Yen-US Dollar cross rate is in an uptrend on the daily charts.  It has retraced back to the point of it's prior pivot.  IF this pivot holds then there is a good possibility that you get a very good up-move.   So, buy the Yen above thursday's high.  Set the stop to either below Thursday's low or Today's intraday low - whichever is lower.  That daily chart is shown below:

image

The broader stock market is still showing signs of weakness so any bounces should be temporary.  Therefore short relative strength laggards (see yesterday's list) on bounces to the hourly charts, the upper keltner channel etc. 

Tags:

Your name:
Your email:
(Optional) Email used only to show Gravatar.
Your website:
Title:
Comment:
Security Code
CAPTCHA image
Enter the code shown above in the box below
Add Comment   Cancel 




Newsletter Signup Minimize
Email Address:
First Name:
Last Name:
  
Subscribe

Copyright (c) 2012 One Trade A Day Terms Of UsePrivacy Statement