Tuesday, 8 January 2008

AUD/YEN VIEW

Update: Closed all trades. Price came close to my 2nd TP (200 EMA). I do not like leaving trade open during the US session that's why i'm out.
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This is a scalp for me. Looking good for long entry, will enter on the 5 EMA. My bias for the medium/long term is short so i will keep an eye on this. I'm not expecting a good trading day but lets see.....

1. Broken upper trend line
2. Goes with my near term bias
3. Good upward momentum

TP1: 100 SMA [REACHED]
TP2: 200 EMA [CLOSED]
SL: 60 pips from entry - using tight stop - will adjust as needed.

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