Thursday 6 May 2010

EURJPY - Possible Wave 4 > 5

Was looking for a possible move down from a wave 4 to wave 5. Entered after a pullback this morning and quickly moved my stop loss to break even after 10 min's, once I was at +30 points.

The move has the potential to go 100+ points if the wave 5 is completed as first though. However on such a tight stop loss I was taken out at breakeven.

Will watch with interest to what unfolds.

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