Missed Yesterday's Short Target by 5 pips

2015년 4월 24일

Great (cautious) short yesterday. Bias is still unchanged to the long side. We did not get a fury of short covering, just a nice pop to the 130 to draw in fresh longs, then flush them out and also clear out stops under the 4/23/2015 low.

Note: EUR/JPY broke out of it's trading band (127.70 to 128.80) and is now flashing bullish divergence on CCI (see blue trendlines). Not sure if we'll see a large move today (Friday). Next upside target is 130.70.

Enjoy today and the weekend!