Wednesday, April 28, 2010

YEN (UPDATE)

Well, we got a small bounce off Buy Zone 1 (38 ticks) and then another bounce off Buy Zone 2 (45 ticks as of this posting).  I would move my stop to tick below low of the day @ 1.0604 and see if you can get a nice move up.  Initial target can be based on fib retracements combined with fib extensions.  I would set Target 1 ~ 1.0670 and Target 2 ~ 1.0690 and let any remaining contracts ride with trailing stop.

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